Royce & Associates LP Decreases Stock Holdings 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 lowered its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 54.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Willner & Heller LLC boosted its position in Synaptics by 17.0% during the 1st quarter. Willner & Heller LLC now owns 4,850 shares of the software maker's stock worth $309,000 after acquiring an additional 705 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in Synaptics during the 1st quarter worth approximately $1,403,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics during the 1st quarter worth approximately $25,000. Segall Bryant & Hamill LLC acquired a new position in Synaptics during the 1st quarter worth approximately $31,801,000. Finally, Victory Capital Management Inc. boosted its position in Synaptics by 11.8% during the 1st quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker's stock worth $41,146,000 after acquiring an additional 67,975 shares during the last quarter. Institutional investors own 99.43% of the company's stock.

Synaptics Stock Down 3.6%

Shares of SYNA stock traded down $2.23 during trading hours on Friday, reaching $60.47. The company had a trading volume of 569,245 shares, compared to its average volume of 536,306. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $89.81. 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 business has a fifty day simple moving average of $64.70 and a 200-day simple moving average of $64.87. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 14.64 and a beta of 1.70.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. Synaptics's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. On average, research analysts expect that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.