FNY Investment Advisers LLC Invests $1.43 Million in Synaptics Incorporated $SYNA

Key Points

• FNY Investment Advisers acquired 11,500 Synaptics shares worth approximately $1.43 million in the second quarter. Institutional investors and hedge funds collectively own 99.43% of the company.
• Synaptics exceeded quarterly expectations, reporting $1.23 in EPS versus a $1.21 consensus estimate and revenue of $308 million, up 8.9% year over year.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $133.45; insiders sold $1.60 million of shares over the past 90 days.

FNY Investment Advisers LLC acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,500 shares of the software maker's stock, valued at approximately $1,428,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in Synaptics by 2,384.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker's stock worth $65,780,000 after buying an additional 901,379 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Synaptics by 469.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker's stock valued at $60,304,000 after buying an additional 671,647 shares during the period. AQR Capital Management LLC increased its stake in shares of Synaptics by 186.2% during the 2nd quarter. AQR Capital Management LLC now owns 443,441 shares of the software maker's stock valued at $28,744,000 after acquiring an additional 288,523 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Synaptics during the 4th quarter valued at about $15,670,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Synaptics by 376.6% during the 2nd quarter. Squarepoint Ops LLC now owns 198,269 shares of the software maker's stock worth $12,852,000 after acquiring an additional 156,671 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Performance

Synaptics stock opened at $102.10 on Friday. The stock's 50-day moving average is $124.23 and its 200-day moving average is $102.04. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -82.34 and a beta of 1.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.04 and a quick ratio of 2.39. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.02. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.10%.The business had revenue of $308.00 million during the quarter, compared to analysts' expectations of $305.32 million. During the same quarter in the previous year, the business earned $1.01 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts anticipate that Synaptics Incorporated will post 1.29 earnings per share for the current year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 692 shares of Synaptics stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $114.83, for a total transaction of $79,462.36. Following the transaction, the insider directly owned 84,126 shares of the company's stock, valued at $9,660,188.58. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the completion of the sale, the insider directly owned 12,421 shares of the company's stock, valued at $1,753,472.57. The trade was a 41.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,649 shares of company stock valued at $1,603,484 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYNA shares. Northland Securities cut shares of Synaptics from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. Zacks Research raised shares of Synaptics from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 7th. TD Cowen downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. Wall Street Zen upgraded shares of Synaptics from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Finally, Rosenblatt Securities cut shares of Synaptics from a "buy" rating to a "hold" rating and lowered their price objective for the company from $180.00 to $160.00 in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $133.45.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.

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