Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Holdings in Synaptics Incorporated $SYNA

Key Points

• Mitsubishi UFJ Asset Management acquired 40,419 Synaptics shares worth approximately $5.0 million, becoming a 0.10% shareholder. Institutional investors collectively own 99.43% of the company.
• Synaptics exceeded quarterly expectations, reporting $1.23 in earnings per share versus the $1.21 consensus and $308 million in revenue, up 8.9% year over year.
• Analyst sentiment remains mixed: Synaptics has a consensus “Hold” rating and an average price target of $123.91, while the stock recently opened at $97.66.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 40,419 shares of the software maker's stock, valued at approximately $5,021,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Synaptics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in shares of Synaptics during the 2nd quarter worth approximately $25,000. CIBC Private Wealth Group LLC raised its position in shares of Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock valued at $26,000 after purchasing an additional 190 shares during the period. Leonteq Securities AG bought a new position in shares of Synaptics in the fourth quarter valued at about $43,000. Lazard Asset Management LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth about $54,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth about $61,000. Institutional investors own 99.43% of the company's stock.

Insider Activity

In other news, insider Vikram Gupta sold 4,277 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the sale, the insider directly owned 103,468 shares in the company, valued at approximately $10,724,458.20. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Esther Song sold 437 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider owned 14,683 shares of the company's stock, valued at approximately $1,522,333.44. This trade represents a 2.89% decrease in their position. 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. Over the last three months, insiders have sold 21,115 shares of company stock valued at $2,569,887. 0.50% of the stock is currently owned by corporate insiders.

Synaptics Trading Down 0.3%

Shares of Synaptics stock opened at $97.66 on Friday. The firm's 50 day moving average is $117.40 and its 200 day moving average is $103.37. The firm has a market capitalization of $3.82 billion, a PE ratio of -7.72 and a beta of 1.99. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share 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 analyst estimates 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Equities research analysts forecast that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SYNA shares. Zacks Research raised Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Mizuho increased their price objective on Synaptics from $128.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Needham & Company LLC cut shares of Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, June 26th. Rosenblatt Securities lowered their price target on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a "buy" rating to a "hold" rating and set a $125.00 price objective for the company. in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Synaptics has a consensus rating of "Hold" and an average target price of $123.91.

Synaptics Company 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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