Point72 Asset Management L.P. Sells 95,694 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Point72 Asset Management L.P. decreased its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 47.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,332 shares of the software maker's stock after selling 95,694 shares during the quarter. Point72 Asset Management L.P. owned 0.27% of Synaptics worth $8,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC grew its stake in Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker's stock valued at $6,309,000 after purchasing an additional 53,252 shares in the last quarter. Vanguard Group Inc. grew its position in Synaptics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker's stock worth $374,569,000 after acquiring an additional 93,155 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Synaptics by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker's stock worth $35,991,000 after acquiring an additional 23,702 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Synaptics by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker's stock valued at $7,025,000 after purchasing an additional 333 shares during the period. Finally, Bank of Montreal Can raised its stake in Synaptics by 19.3% during the 4th quarter. Bank of Montreal Can now owns 5,161 shares of the software maker's stock worth $394,000 after buying an additional 834 shares during the period. Hedge funds and other institutional investors own 99.43% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC assumed coverage on Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Susquehanna lifted their price target on Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Mizuho dropped their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $93.75.

Synaptics Price Performance

Shares of SYNA traded down $2.79 during trading hours on Wednesday, reaching $62.21. The stock had a trading volume of 480,231 shares, compared to its average volume of 472,927. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00. The stock has a market capitalization of $2.40 billion, a PE ratio of 14.71 and a beta of 1.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The company's 50-day moving average is $57.47 and its two-hundred day moving average is $69.44.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data 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. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The business had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. During the same period in the prior year, the business posted $0.53 earnings per share. Synaptics's quarterly revenue was up 12.3% on a year-over-year basis. Research analysts expect that Synaptics Incorporated will post 0.96 EPS for the current year.

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.