GAMMA Investing LLC Increases Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

GAMMA Investing LLC raised its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 10,953.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,322 shares of the software maker's stock after buying an additional 23,111 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Synaptics worth $1,486,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in Synaptics in the fourth quarter valued at about $31,000. Menard Financial Group LLC acquired a new stake in shares of Synaptics during the fourth quarter worth about $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Synaptics during the fourth quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Synaptics during the fourth quarter worth about $72,000. Finally, Sterling Capital Management LLC lifted its position in shares of Synaptics by 811.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker's stock worth $88,000 after purchasing an additional 1,031 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SYNA shares. Rosenblatt Securities reissued a "buy" rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Mizuho reduced their price target on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Finally, Needham & Company LLC started coverage on shares of Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Synaptics has an average rating of "Buy" and a consensus target price of $93.75.

Synaptics Stock Down 4.0%

Shares of SYNA stock traded down $2.59 during trading hours on Friday, reaching $61.55. 365,226 shares of the stock were exchanged, compared to its average volume of 485,882. The business's fifty day moving average is $57.84 and its two-hundred day moving average is $67.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $98.00. The firm has a market capitalization of $2.37 billion, a P/E ratio of 14.55 and a beta of 1.68.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The firm had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.03 million. During the same period in the prior year, the firm earned $0.53 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics Company 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.