Synaptics Incorporated $SYNA Shares Bought by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Synaptics Incorporated by 544.1%, owning 6,087 shares worth $388,000 as of its latest SEC filing.
• Synaptics reported earnings of $1.01 per share for the previous quarter, beating estimates, with revenue up 14.3% year-over-year to $282.80 million.
• The company has authorized a $150 million stock repurchase plan indicating confidence in its stock valuation, allowing the repurchase of up to 6.5% of its shares.

Kayne Anderson Rudnick Investment Management LLC raised its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 544.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,087 shares of the software maker's stock after buying an additional 5,142 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Synaptics were worth $388,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SYNA. Toronto Dominion Bank acquired a new stake in Synaptics in the 4th quarter valued at about $152,895,000. Ameriprise Financial Inc. raised its holdings in shares of Synaptics by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker's stock worth $388,587,000 after acquiring an additional 1,118,559 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Synaptics in the first quarter worth $31,801,000. Deutsche Bank AG raised its holdings in shares of Synaptics by 341.9% in the fourth quarter. Deutsche Bank AG now owns 189,398 shares of the software maker's stock worth $14,455,000 after acquiring an additional 146,540 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Synaptics by 169.2% in the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker's stock worth $16,388,000 after acquiring an additional 134,945 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Synaptics Trading Down 2.1%

NASDAQ:SYNA traded down $1.51 during mid-day trading on Monday, reaching $69.86. The company's stock had a trading volume of 335,527 shares, compared to its average volume of 497,324. The company's fifty day simple moving average is $66.78 and its two-hundred day simple moving average is $62.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $89.81. The stock has a market cap of $2.70 billion, a P/E ratio of -57.74 and a beta of 1.63.

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

Synaptics announced that its Board of Directors has approved a stock buyback program on Thursday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.