Synaptics Incorporated (NASDAQ:SYNA) Position Reduced by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 47.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,332 shares of the software maker's stock after selling 95,694 shares during the period. Point72 Asset Management L.P. owned approximately 0.27% of Synaptics worth $8,192,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SYNA. Barclays PLC raised its stake in Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker's stock worth $6,309,000 after purchasing an additional 53,252 shares during the period. KBC Group NV raised its stake in Synaptics by 87.4% during the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker's stock worth $137,000 after purchasing an additional 837 shares during the period. Retirement Systems of Alabama increased its position in shares of Synaptics by 1.2% in the fourth quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker's stock worth $4,671,000 after acquiring an additional 727 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker's stock worth $847,000 after acquiring an additional 200 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Synaptics by 211.4% in the fourth quarter. Van ECK Associates Corp now owns 5,754 shares of the software maker's stock worth $439,000 after acquiring an additional 3,906 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SYNA. Mizuho dropped their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Needham & Company LLC began coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price objective for the company. Craig Hallum raised shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $93.75.

Synaptics Stock Down 3.0%

SYNA traded down $1.84 during trading hours on Friday, reaching $58.86. 279,664 shares of the stock traded hands, compared to its average volume of 473,489. The firm's fifty day simple moving average is $57.26 and its two-hundred day simple moving average is $69.29. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 13.91 and a beta of 1.67. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $98.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The business had revenue of $266.60 million during the quarter, compared to analyst estimates of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business's revenue was up 12.3% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. As a group, analysts forecast that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

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.