Nuveen LLC Invests $6.60 Million 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 stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Synaptics in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in Synaptics by 151.1% in the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after acquiring an additional 269 shares during the period. Menard Financial Group LLC acquired a new stake in Synaptics in the 4th quarter valued at approximately $37,000. Banque Cantonale Vaudoise acquired a new stake in Synaptics in the 1st quarter valued at approximately $35,000. Finally, PNC Financial Services Group Inc. increased its position 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 during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYNA. Wall Street Zen cut Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Needham & Company LLC began coverage on Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price target on the stock. Barclays began coverage on Synaptics in a research report on Monday, August 18th. They set an "overweight" rating and a $78.00 price target on the stock. Finally, Zacks Research cut Synaptics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.33.

Synaptics Price Performance

Shares of SYNA traded down $1.51 during trading hours on Friday, hitting $69.86. 335,527 shares of the company were exchanged, compared to its average volume of 509,011. The company has a market capitalization of $2.70 billion, a PE ratio of -57.74 and a beta of 1.61. 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 firm has a fifty day simple moving average of $66.65 and a 200-day simple moving average of $62.86. Synaptics Incorporated has a one year low of $41.80 and a one year high of $89.81.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $282.80 million during the quarter, compared to analyst estimates of $280.12 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The company's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. As a group, sell-side analysts predict that Synaptics Incorporated will post 0.96 earnings per share for the current year.

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