SG Americas Securities LLC Makes New Investment in Synaptics Incorporated (NASDAQ:SYNA)

SG Americas Securities LLC bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,024 shares of the software maker's stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYNA. Toronto Dominion Bank bought a new position in shares of Synaptics during the fourth quarter worth about $152,895,000. Norges Bank acquired a new position in Synaptics during the 4th quarter worth approximately $43,481,000. Groupama Asset Managment bought a new position in shares of Synaptics during the 4th quarter worth approximately $38,160,000. Deutsche Bank AG raised its holdings in shares of Synaptics by 341.9% in the fourth quarter. Deutsche Bank AG now owns 189,398 shares of the software maker's stock valued at $14,455,000 after purchasing an additional 146,540 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Synaptics by 169.2% in the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker's stock valued at $16,388,000 after purchasing an additional 134,945 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SYNA shares. Mizuho reduced their target price on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Rosenblatt Securities restated a "buy" rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Finally, Needham & Company LLC initiated coverage on Synaptics in a report on Friday, May 9th. They issued a "buy" rating and a $80.00 price objective for the company. One investment 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, Synaptics currently has a consensus rating of "Buy" and an average target price of $93.75.

Synaptics Stock Performance

SYNA stock traded up $0.27 during trading hours on Thursday, reaching $65.63. The stock had a trading volume of 338,365 shares, compared to its average volume of 573,789. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $98.00. The stock has a market capitalization of $2.53 billion, a PE ratio of 15.89 and a beta of 1.68. The stock has a 50-day simple moving average of $60.27 and a 200 day simple moving average of $66.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 2.34.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The business had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. During the same quarter last year, the firm posted $0.53 EPS. The company's quarterly revenue was up 12.3% on a year-over-year basis. Analysts predict that Synaptics Incorporated will post 0.96 EPS for the current fiscal 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.