Connor Clark & Lunn Investment Management Ltd. Has $3.59 Million Stock Holdings in Synaptics Incorporated $SYNA

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 369.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,298 shares of the software maker's stock after acquiring an additional 44,315 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.14% of Synaptics worth $3,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson Investment Counsel Inc. purchased a new stake in shares of Synaptics during the 1st quarter worth about $216,000. Bank of Montreal Can grew its holdings in Synaptics by 19.3% in the 4th quarter. Bank of Montreal Can now owns 5,161 shares of the software maker's stock valued at $394,000 after buying an additional 834 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Synaptics in the 1st quarter valued at approximately $320,000. Raymond James Financial Inc. acquired a new stake in Synaptics in the 4th quarter valued at approximately $371,000. Finally, Nuveen Asset Management LLC grew its holdings in Synaptics by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 115,441 shares of the software maker's stock valued at $8,810,000 after buying an additional 4,760 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays assumed coverage on Synaptics in a report on Monday. They set an "overweight" rating and a $78.00 price objective on the stock. Wall Street Zen upgraded Synaptics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC started coverage on Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 target price for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Synaptics presently has an average rating of "Buy" and a consensus target price of $91.33.

Synaptics Stock Up 5.4%

Shares of NASDAQ:SYNA traded up $3.64 during mid-day trading on Monday, reaching $70.44. 268,357 shares of the stock were exchanged, compared to its average volume of 537,001. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.71 billion, a P/E ratio of -58.30 and a beta of 1.61. Synaptics Incorporated has a one year low of $41.80 and a one year high of $89.81. The stock's 50 day simple moving average is $65.49 and its 200-day simple moving average is $63.16.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. The business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $280.12 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%. Synaptics's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. As a group, equities research analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.

Synaptics announced that its board has authorized a stock buyback program on Thursday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Synaptics Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.