Nuveen LLC Buys New Stake in Synaptics Incorporated $SYNA

Key Points

• Nuveen LLC has acquired a new stake in Synaptics Incorporated, purchasing 103,515 shares valued at approximately $6.60 million during the 1st quarter of the year.
• Synaptics reported earnings of $1.01 per share for the latest quarter, exceeding analysts' estimates, with a revenue of $282.80 million, marking a 14.3% year-over-year increase.
• The company has initiated a $150 million share repurchase program, suggesting management's belief that its shares are currently undervalued.

Nuveen LLC bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 103,515 shares of the software maker's stock, valued at approximately $6,596,000. Nuveen LLC owned 0.26% of Synaptics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SYNA. Toronto Dominion Bank purchased a new position in shares of Synaptics during the fourth quarter worth approximately $152,895,000. Segall Bryant & Hamill LLC acquired a new stake in shares of Synaptics during the first quarter worth $31,801,000. Deutsche Bank AG lifted its stake in shares of Synaptics by 341.9% during the fourth quarter. Deutsche Bank AG now owns 189,398 shares of the software maker's stock worth $14,455,000 after buying an additional 146,540 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Synaptics by 169.2% during the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker's stock worth $16,388,000 after buying an additional 134,945 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Synaptics by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker's stock worth $42,483,000 after buying an additional 95,432 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Synaptics Price Performance

Shares of SYNA stock traded down $1.89 on Friday, reaching $69.49. 109,400 shares of the company were exchanged, compared to its average volume of 530,157. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.26 and a current ratio of 2.78. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -57.43 and a beta of 1.61. The business has a 50-day moving average price of $66.52 and a 200 day moving average price of $62.91. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $89.81.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, beating 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 company had revenue of $282.80 million for the quarter, compared to analyst estimates of $280.12 million. During the same period in the previous year, the business posted $0.64 EPS. Synaptics's revenue was up 14.3% on a year-over-year basis. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. Equities research analysts forecast that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

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

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.