Legato Capital Management LLC Has $606,000 Stake in Synaptics Incorporated $SYNA

Key Points

• Legato Capital Management cut its Synaptics stake by 66% in the fourth quarter, ending with 8,187 shares valued at about $606,000.
• Synaptics posted better-than-expected quarterly results, with EPS of $1.09 versus $1.01 expected and revenue of $294.2 million, up 10.4% year over year.
• Wall Street sentiment remains constructive overall: analysts rate the stock Moderate Buy on average, with a consensus price target of $119.18, though shares recently traded at $147.57 after a 2.7% gain.

Legato Capital Management LLC trimmed its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 66.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,187 shares of the software maker's stock after selling 15,910 shares during the period. Legato Capital Management LLC's holdings in Synaptics were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Leonteq Securities AG acquired a new stake in shares of Synaptics in the fourth quarter valued at approximately $43,000. PNC Financial Services Group Inc. lifted its position in shares of Synaptics by 21.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the software maker's stock valued at $83,000 after buying an additional 200 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in shares of Synaptics by 1.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,724 shares of the software maker's stock valued at $646,000 after buying an additional 132 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Synaptics by 26.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,175 shares of the software maker's stock worth $3,346,000 after purchasing an additional 9,218 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in Synaptics by 0.9% during the 4th quarter. Cardinal Capital Management now owns 46,981 shares of the software maker's stock worth $3,478,000 after purchasing an additional 396 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYNA shares. Zacks Research raised Synaptics from a "strong sell" rating to a "hold" rating in a report on Thursday, May 7th. TD Cowen reissued a "buy" rating on shares of Synaptics in a report on Friday, February 6th. Craig Hallum reissued a "hold" rating and set a $95.00 price target on shares of Synaptics in a report on Friday, May 8th. Rosenblatt Securities lifted their price target on Synaptics from $125.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. Finally, Susquehanna lifted their price target on Synaptics from $105.00 to $125.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $119.18.

Synaptics Stock Up 2.7%

Shares of SYNA opened at $147.57 on Wednesday. The company has a market capitalization of $5.70 billion, a PE ratio of -119.01, a PEG ratio of 4.60 and a beta of 1.86. Synaptics Incorporated has a 12 month low of $57.54 and a 12 month high of $148.10. The stock's 50-day moving average price is $93.16 and its two-hundred day moving average price is $83.35. The company has a current ratio of 3.04, a quick ratio of 2.39 and a debt-to-equity ratio of 0.62.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, May 7th. The software maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $294.20 million for the quarter, compared to the consensus estimate of $290.51 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.10%.The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Synaptics has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, analysts anticipate that Synaptics Incorporated will post 1.3 EPS for the current year.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 1,548 shares of Synaptics stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $92.90, for a total transaction of $143,809.20. Following the transaction, the insider directly owned 87,382 shares of the company's stock, valued at approximately $8,117,787.80. The trade was a 1.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 1,798 shares of Synaptics stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $81.87, for a total value of $147,202.26. Following the transaction, the insider directly owned 65,183 shares in the company, valued at $5,336,532.21. The trade was a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 6,532 shares of company stock worth $591,054 over the last ninety days. Company insiders own 0.50% of the company's stock.

About Synaptics

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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