GAMMA Investing LLC Acquires 23,111 Shares of Synaptics Incorporated (NASDAQ:SYNA)

GAMMA Investing LLC lifted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 10,953.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,322 shares of the software maker's stock after purchasing an additional 23,111 shares during the quarter. GAMMA Investing LLC owned 0.06% of Synaptics worth $1,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SYNA. Louisiana State Employees Retirement System boosted its stake in Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker's stock worth $847,000 after buying an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its stake in Synaptics by 2.1% in the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker's stock worth $728,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its stake in Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker's stock worth $883,000 after buying an additional 200 shares in the last quarter. Bridge City Capital LLC boosted its stake in Synaptics by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker's stock worth $1,718,000 after buying an additional 201 shares in the last quarter. Finally, Inspire Advisors LLC boosted its stake in Synaptics by 2.7% in the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker's stock worth $624,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company's stock.

Synaptics Trading Up 0.9%

Shares of NASDAQ:SYNA traded up $0.59 during trading on Wednesday, reaching $63.56. 293,378 shares of the company traded hands, compared to its average volume of 485,581. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 15.39 and a beta of 1.68. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. The business's fifty day moving average is $58.69 and its 200-day moving average is $67.50.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The company had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. As a group, analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on SYNA shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Mizuho dropped their price objective on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Finally, Needham & Company LLC started coverage on Synaptics in a research note on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $93.75.

About Synaptics

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.