Squarepoint Ops LLC Makes New Investment in Synaptics Incorporated (NASDAQ:SYNA)

Squarepoint Ops LLC bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,609 shares of the software maker's stock, valued at approximately $1,268,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Synaptics by 1.0% during the 4th quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker's stock worth $380,059,000 after buying an additional 51,498 shares during the period. Vanguard Group Inc. lifted its stake in shares of Synaptics by 1.9% in the fourth 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 in the last quarter. Toronto Dominion Bank purchased a new position in Synaptics in the fourth quarter valued at about $152,895,000. FMR LLC boosted its holdings in Synaptics by 0.9% in the fourth quarter. FMR LLC now owns 1,891,227 shares of the software maker's stock valued at $144,338,000 after purchasing an additional 16,337 shares during the last quarter. Finally, Trigran Investments Inc. boosted its holdings in Synaptics by 5.9% in the fourth quarter. Trigran Investments Inc. now owns 1,072,222 shares of the software maker's stock valued at $81,832,000 after purchasing an additional 59,647 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Needham & Company LLC started coverage on shares of Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price target on the stock. Finally, Mizuho cut their price objective on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. One research 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $93.75.

Synaptics Stock Performance

Shares of NASDAQ:SYNA traded up $0.42 during trading on Wednesday, hitting $62.48. 334,104 shares of the company traded hands, compared to its average volume of 478,770. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 14.77 and a beta of 1.67. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The business's fifty day moving average is $56.52 and its 200-day moving average is $68.42.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The company had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period 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 fiscal 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.