PDT Partners LLC Raises Holdings in Synaptics Incorporated $SYNA

Key Points

• PDT Partners LLC increased its stake in Synaptics Incorporated by 85.0%, now owning 50,030 shares valued at approximately $3.19 million.
• Synaptics reported a 14.3% increase in revenue year-over-year, with quarterly earnings exceeding consensus estimates at $1.01 EPS.
• The company has initiated a $150 million stock buyback plan, allowing it to reacquire up to 6.5% of its shares, indicating the board's belief that the stock is undervalued.

PDT Partners LLC raised its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 85.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,030 shares of the software maker's stock after acquiring an additional 22,980 shares during the period. PDT Partners LLC owned approximately 0.13% of Synaptics worth $3,188,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics in the first quarter worth $25,000. Parallel Advisors LLC grew its stake in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after acquiring an additional 269 shares during the last quarter. Menard Financial Group LLC purchased a new stake in shares of Synaptics in the fourth quarter worth $37,000. Quarry LP grew its stake in shares of Synaptics by 220.0% in the first quarter. Quarry LP now owns 528 shares of the software maker's stock worth $34,000 after acquiring an additional 363 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Synaptics in the first quarter worth $35,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Trading Up 0.5%

SYNA traded up $0.34 during trading hours on Friday, reaching $69.90. 348,305 shares of the company's stock traded hands, compared to its average volume of 408,841. The firm has a 50-day moving average price of $67.05 and a 200 day moving average price of $62.64. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $89.81. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.70 billion, a PE ratio of -57.77 and a beta of 1.63.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The company had revenue of $282.80 million during the quarter, compared to analysts' expectations of $280.12 million. During the same quarter in the previous year, the business earned $0.64 EPS. Synaptics's revenue was up 14.3% compared to the same quarter last year. 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 EPS for the current fiscal year.

Synaptics declared that its board has initiated a share buyback plan on Thursday, August 7th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.