Northern Trust Corp Sells 18,115 Shares of Synaptics Incorporated $SYNA

Key Points

• Northern Trust Corp has decreased its stake in Synaptics by 3.5%, selling 18,115 shares, and now holds 503,628 shares valued at approximately $32 million.
• Synaptics reported $1.01 earnings per share for its latest quarter, surpassing analysts' expectations of $1.00 and marking a 14.3% revenue increase year-over-year.
• The company has initiated a $150 million share buyback plan, allowing it to repurchase up to 6.5% of its shares, indicating the leadership's belief that the stock is undervalued.

Northern Trust Corp lowered its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 503,628 shares of the software maker's stock after selling 18,115 shares during the period. Northern Trust Corp owned about 1.29% of Synaptics worth $32,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYNA. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics during the 1st quarter valued at $25,000. Parallel Advisors LLC boosted its holdings in shares of Synaptics by 151.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after buying an additional 269 shares during the period. Banque Cantonale Vaudoise bought a new stake in Synaptics during the 1st quarter valued at approximately $35,000. Menard Financial Group LLC bought a new position in Synaptics during the fourth quarter worth $37,000. Finally, PNC Financial Services Group Inc. raised its holdings in Synaptics by 32.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock valued at $65,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Price Performance

Shares of SYNA stock traded up $1.72 during trading hours on Thursday, hitting $69.56. 373,016 shares of the company's stock were exchanged, compared to its average volume of 454,001. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $89.81. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -57.49 and a beta of 1.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. The stock's 50-day moving average is $66.95 and its 200-day moving average is $62.82.

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 the consensus estimate 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 business had revenue of $282.80 million for the quarter, compared to the consensus estimate of $280.12 million. During the same quarter in the prior 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. As a group, research analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current year.

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

Analyst Ratings Changes

A number of brokerages recently commented on SYNA. Needham & Company LLC initiated coverage on Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 target price for the company. Zacks Research cut shares of Synaptics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Barclays assumed coverage on shares of Synaptics in a research report on Monday, August 18th. They set an "overweight" rating and a $78.00 target price on the stock. Finally, Wall Street Zen cut shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Synaptics currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.33.

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.