Pentwater Capital Management LP purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,000 shares of the software maker's stock, valued at approximately $2,485,000. Pentwater Capital Management LP owned 0.05% of Synaptics at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of SYNA. ABS Investment Management LLC bought a new stake in Synaptics in the second quarter valued at $310,575,000. CoreCap Advisors LLC purchased a new position in shares of Synaptics during the second quarter valued at about $25,000. Allworth Financial LP purchased a new position in shares of Synaptics during the second quarter valued at about $33,000. CIBC Private Wealth Group LLC raised its stake in Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock worth $26,000 after buying an additional 190 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Synaptics in the second quarter worth about $61,000. Hedge funds and other institutional investors own 99.43% of the company's stock.
Insider Buying and Selling
In related news, insider Lisa Bodensteiner sold 6,056 shares of Synaptics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total transaction of $627,522.72. Following the transaction, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 437 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the sale, the insider directly owned 14,683 shares of the company's stock, valued at approximately $1,522,333.44. This trade represents a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 15,867 shares of company stock valued at $1,624,996. 0.50% of the stock is owned by company insiders.
Synaptics Stock Performance
Shares of SYNA opened at $95.70 on Thursday. The firm has a market capitalization of $3.74 billion, a P/E ratio of -7.57 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The business has a fifty day moving average of $114.91 and a 200 day moving average of $103.68.
Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, sell-side analysts anticipate that Synaptics Incorporated will post 1.98 EPS for the current year.
Analysts Set New Price Targets
SYNA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Synaptics from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a report on Monday, June 29th. Needham & Company LLC lowered Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, June 26th. Craig Hallum set a $105.00 target price on shares of Synaptics in a research report on Friday, August 7th. Wells Fargo & Company decreased their target price on shares of Synaptics from $160.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Finally, TD Cowen cut shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $123.91.
Read Our Latest Analysis on SYNA
About Synaptics
(
Free Report)
Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.
Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.
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