Panagora Asset Management Inc. Has $2.96 Million Stake in Synaptics Incorporated $SYNA

Key Points

• Panagora Asset Management Inc. has reduced its holdings in Synaptics Incorporated by 26.7%, now owning 46,393 shares valued at approximately $2.96 million.
• Synaptics recently reported a quarterly earnings of $1.01 per share, slightly beating expectations, along with a revenue increase of 14.3% year-over-year.
• The company initiated a $150 million share buyback plan, indicating that the board believes the shares are currently undervalued.

Panagora Asset Management Inc. trimmed its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,393 shares of the software maker's stock after selling 16,906 shares during the period. Panagora Asset Management Inc. owned approximately 0.12% of Synaptics worth $2,956,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYNA. Vident Advisory LLC acquired a new position in shares of Synaptics during the first quarter valued at approximately $628,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Synaptics by 544.1% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,087 shares of the software maker's stock valued at $388,000 after purchasing an additional 5,142 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Synaptics by 22.5% in the 1st quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker's stock worth $388,587,000 after buying an additional 1,118,559 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Synaptics by 36.2% in the first quarter. Bragg Financial Advisors Inc now owns 197,109 shares of the software maker's stock valued at $12,560,000 after buying an additional 52,423 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Synaptics in the 1st quarter worth approximately $217,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Performance

Synaptics stock traded up $0.34 during trading hours on Friday, hitting $69.90. The stock had a trading volume of 348,305 shares, compared to its average volume of 436,173. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $89.81. The company has a market cap of $2.70 billion, a PE ratio of -57.77 and a beta of 1.63. The company has a 50-day moving average of $67.05 and a two-hundred day moving average of $62.80. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, August 7th. The software maker reported $1.01 EPS for the quarter, beating analysts' consensus estimates 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%.Synaptics's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. On average, equities research analysts anticipate that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

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

Synaptics Company 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.