Jupiter Topco LLC Invests $2.02 Million in Synaptics Incorporated $SYNA

Key Points

• Jupiter Topco LLC acquired 16,252 Synaptics shares worth approximately $2.02 million during the second quarter. Other hedge funds also initiated positions, and institutional investors now own 99.43% of the company.
• Synaptics beat quarterly expectations, reporting $1.23 in EPS versus the $1.21 consensus and revenue of $308 million, up 8.9% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $123.91 price target; the stock recently traded at $97.68, while insiders sold shares under pre-arranged plans to cover tax obligations.

Jupiter Topco LLC acquired a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,252 shares of the software maker's stock, valued at approximately $2,022,000.

A number of other hedge funds also recently bought and sold shares of SYNA. Kintayl Capital LP purchased a new stake in Synaptics in the second quarter worth approximately $5,511,000. ABS Investment Management LLC purchased a new position in shares of Synaptics during the second quarter worth approximately $310,575,000. Expect Equity LLC purchased a new position in shares of Synaptics during the second quarter worth approximately $2,194,000. Primecap Management Co. CA bought a new stake in shares of Synaptics in the 2nd quarter worth approximately $56,649,000. Finally, Legal & General Group Plc bought a new stake in shares of Synaptics in the 2nd quarter worth approximately $6,581,000. Institutional investors own 99.43% of the company's stock.

Synaptics Trading Up 1.8%

Shares of SYNA opened at $97.68 on Friday. The stock has a market capitalization of $3.82 billion, a P/E ratio of -7.72 and a beta of 1.94. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $110.18 and a two-hundred day simple moving average of $103.98.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. The firm had revenue of $308.00 million for the quarter, compared to analysts' expectations of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. On average, research analysts anticipate that Synaptics Incorporated will post 1.98 EPS for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 4,277 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the completion of the transaction, the insider owned 103,468 shares in the company, valued at $10,724,458.20. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lisa Bodensteiner sold 6,056 shares of Synaptics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the completion of the sale, the insider owned 78,634 shares in the company, valued at approximately $8,148,055.08. This trade represents a 7.15% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 15,867 shares of company stock valued at $1,624,996. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYNA. Rosenblatt Securities reduced their target price on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Wells Fargo & Company lowered their price target on shares of Synaptics from $160.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Synaptics from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Mizuho raised their price objective on Synaptics from $128.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Finally, Barclays reiterated an "equal weight" rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Synaptics presently has a consensus rating of "Hold" and a consensus price target of $123.91.

Synaptics 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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