Synaptics Incorporated $SYNA Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Synaptics Incorporated by 5.2%, selling 4,238 shares during the first quarter, now holding 78,011 shares valued at approximately $4.97 million.
• Synaptics has received mixed analyst ratings, with an average target price of $91.33, while Barclays set a price target at $78.00 and Zacks downgraded the stock to a "strong sell".
• The company declared a stock buyback plan of $150 million, allowing repurchase of up to 6.5% of its outstanding shares, indicating that the board believes the stock is undervalued.

Invesco Ltd. cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,011 shares of the software maker's stock after selling 4,238 shares during the period. Invesco Ltd. owned about 0.20% of Synaptics worth $4,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics in the first quarter valued at about $25,000. Parallel Advisors LLC boosted its holdings in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after purchasing an additional 269 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Synaptics in the first quarter valued at approximately $35,000. Menard Financial Group LLC purchased a new stake in Synaptics during the fourth quarter worth $37,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Synaptics by 32.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock worth $65,000 after purchasing an additional 249 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYNA. Wall Street Zen downgraded Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Barclays began coverage on Synaptics in a research report on Monday, August 18th. They set an "overweight" rating and a $78.00 price target on the stock. Needham & Company LLC began coverage on Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price target on the stock. Finally, Zacks Research lowered shares of Synaptics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Synaptics has a consensus rating of "Moderate Buy" and a consensus target price of $91.33.

Synaptics Trading Down 2.7%

Synaptics stock traded down $1.86 during trading on Tuesday, hitting $68.00. The company had a trading volume of 248,024 shares, compared to its average volume of 471,782. Synaptics Incorporated has a 1-year low of $41.80 and a 1-year high of $89.81. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60. The company's 50 day simple moving average is $66.82 and its 200-day simple moving average is $62.81. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -56.20 and a beta of 1.63.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to the consensus estimate of $280.12 million. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. As a group, analysts expect that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics declared that its board has approved a stock buyback program on Thursday, August 7th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

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.