Peregrine Capital Management LLC Has $14.90 Million Stock Holdings in Synaptics Incorporated $SYNA

Key Points

• Peregrine Capital Management cut its Synaptics stake by 12.7% in the first quarter, selling 31,025 shares and ending with 212,790 shares valued at about $14.9 million.
• Synaptics shares were up 5.8% in Wednesday trading, opening at $124.23 after trading between a 12-month low of $58.28 and high of $149.11. The company now has a market cap of about $4.8 billion.
• The company recently beat earnings expectations, reporting $1.09 EPS on revenue of $294.2 million, while analysts currently rate the stock Hold on average with a target price of about $131.

Peregrine Capital Management LLC reduced its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,790 shares of the software maker's stock after selling 31,025 shares during the period. Peregrine Capital Management LLC owned 0.55% of Synaptics worth $14,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC grew its stake in shares of Synaptics by 119.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock valued at $26,000 after buying an additional 190 shares during the period. Leonteq Securities AG acquired a new position in Synaptics during the 4th quarter worth approximately $43,000. Lazard Asset Management LLC acquired a new position in Synaptics during the 2nd quarter worth approximately $54,000. Kemnay Advisory Services Inc. bought a new position in Synaptics in the fourth quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Synaptics by 21.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the software maker's stock worth $83,000 after acquiring an additional 200 shares in the last quarter. 99.43% of the stock is owned by institutional investors.

Synaptics Trading Up 5.8%

Shares of Synaptics stock opened at $124.23 on Wednesday. The stock has a fifty day simple moving average of $123.60 and a 200 day simple moving average of $95.00. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month high of $149.11. The company has a market capitalization of $4.80 billion, a P/E ratio of -100.19, a price-to-earnings-growth ratio of 3.76 and a beta of 1.98. The company has a current ratio of 3.04, a quick ratio of 2.39 and a debt-to-equity ratio of 0.62.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $294.20 million for the quarter, compared to analysts' expectations of $290.51 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.10%.The business's revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. Synaptics has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, sell-side analysts anticipate that Synaptics Incorporated will post 1.3 earnings per share for the current fiscal year.

Insider Activity at Synaptics

In related news, insider Lisa Bodensteiner sold 1,798 shares of the business's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $81.87, for a total transaction of $147,202.26. Following the transaction, the insider directly owned 65,183 shares in the company, valued at approximately $5,336,532.21. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 Vikram Gupta sold 1,548 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $92.90, for a total transaction of $143,809.20. Following the completion of the sale, the insider owned 87,382 shares of the company's stock, valued at approximately $8,117,787.80. This trade represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,183 shares of company stock valued at $1,978,694 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYNA. Susquehanna downgraded Synaptics from a "positive" rating to a "neutral" rating and boosted their price objective for the company from $125.00 to $140.00 in a report on Friday. Needham & Company LLC cut Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a "buy" rating to a "hold" rating and set a $125.00 price target for the company. in a research report on Monday. TD Cowen lowered shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Northland Securities lowered shares of Synaptics from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $131.00.

Synaptics Profile

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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