Nuveen Asset Management LLC Boosts Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Nuveen Asset Management LLC raised its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,441 shares of the software maker's stock after acquiring an additional 4,760 shares during the quarter. Nuveen Asset Management LLC owned 0.29% of Synaptics worth $8,810,000 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. Brown Brothers Harriman & Co. acquired a new stake in Synaptics in the fourth quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Synaptics in the fourth quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Synaptics in the fourth quarter valued at $72,000. Sterling Capital Management LLC lifted its holdings in Synaptics by 811.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker's stock valued at $88,000 after acquiring an additional 1,031 shares during the period. Finally, KBC Group NV lifted its holdings in Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker's stock valued at $137,000 after acquiring an additional 837 shares during the period. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Price Performance

Shares of NASDAQ:SYNA traded up $0.49 during midday trading on Monday, hitting $59.25. 443,564 shares of the stock were exchanged, compared to its average volume of 475,711. The stock has a market cap of $2.28 billion, a P/E ratio of 14.01 and a beta of 1.67. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $98.00. The company has a 50 day moving average price of $56.58 and a 200-day moving average price of $68.51.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The firm had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. During the same quarter in the previous year, the company posted $0.53 EPS. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts forecast that Synaptics Incorporated will post 0.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on SYNA. Mizuho reduced their target price on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Needham & Company LLC assumed coverage on Synaptics in a research note on Friday, May 9th. They set a "buy" rating and a $80.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $93.75.

Synaptics Profile

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.