Synaptics Incorporated $SYNA Position Increased 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 increased its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 544.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of Synaptics by 22.5% during the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker's stock valued at $388,587,000 after acquiring an additional 1,118,559 shares during the period. Toronto Dominion Bank acquired a new position in Synaptics during the 4th quarter valued at about $152,895,000. Trigran Investments Inc. boosted its position in shares of Synaptics by 5.5% during the first quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker's stock worth $72,050,000 after buying an additional 58,511 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Synaptics by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,390 shares of the software maker's stock worth $76,960,000 after buying an additional 74,433 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Synaptics by 11.8% during the first quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker's stock worth $41,146,000 after buying an additional 67,975 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SYNA. Wall Street Zen lowered Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Barclays initiated coverage on shares of Synaptics in a report on Monday, August 18th. They issued an "overweight" rating and a $78.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 price target for the company. 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 analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.33.

Synaptics Trading Down 2.1%

Shares of NASDAQ:SYNA traded down $1.51 during midday trading on Friday, reaching $69.86. The company had a trading volume of 335,527 shares, compared to its average volume of 509,011. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.26 and a current ratio of 2.78. Synaptics Incorporated has a 1-year low of $41.80 and a 1-year high of $89.81. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -57.74 and a beta of 1.61. The company has a fifty day simple moving average of $66.65 and a two-hundred day simple moving average of $62.92.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The company had revenue of $282.80 million during the quarter, compared to analyst estimates of $280.12 million. During the same period in the prior year, the firm earned $0.64 earnings per share. The business'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. Research analysts predict that Synaptics Incorporated will post 0.96 earnings per share for the current year.

Synaptics announced that its Board of Directors has initiated a stock repurchase program on Thursday, August 7th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are 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.