Royce & Associates LP Has $766,000 Position in Synaptics Incorporated (NASDAQ:SYNA)

Key Points

• Royce & Associates LP significantly reduced its stock position in Synaptics Incorporated by 54.8%, now holding 12,024 shares valued at approximately $766,000.
• Despite Royce's divestment, other large investors like Ameriprise Financial and Vanguard Group increased their holdings in Synaptics during the fourth quarter.
• Analysts have a positive outlook on Synaptics, with a current average rating of "Buy" and a target price of $93.75, following a recent earnings report beat with an EPS of $0.90.

Royce & Associates LP reduced its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 54.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,024 shares of the software maker's stock after selling 14,578 shares during the period. Royce & Associates LP's holdings in Synaptics were worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Synaptics in the first quarter worth approximately $25,000. Brown Brothers Harriman & Co. acquired a new stake in Synaptics in the fourth quarter worth approximately $31,000. Parallel Advisors LLC lifted its position in 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 purchasing an additional 269 shares during the period. Menard Financial Group LLC acquired a new stake in Synaptics in the fourth quarter worth approximately $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Synaptics in the fourth quarter worth approximately $43,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC assumed coverage on Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $93.75.

Synaptics Price Performance

Shares of NASDAQ:SYNA traded down $2.23 during trading on Friday, reaching $60.47. The stock had a trading volume of 569,245 shares, compared to its average volume of 324,472. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 2.34. The stock has a market capitalization of $2.33 billion, a PE ratio of 14.64 and a beta of 1.61. The business's 50-day moving average price is $64.73 and its 200 day moving average price is $64.77. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $89.81.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued 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 15.90% and a return on equity of 3.16%. Synaptics's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. As a group, equities analysts predict that Synaptics Incorporated will post 0.96 earnings per share for the current year.

About Synaptics

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.