Peregrine Capital Management LLC Has $13.79 Million Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Peregrine Capital Management LLC increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,377 shares of the software maker's stock after buying an additional 11,548 shares during the quarter. Peregrine Capital Management LLC owned 0.55% of Synaptics worth $13,788,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYNA. CWC Advisors LLC. grew its stake in shares of Synaptics by 33.2% during the 1st quarter. CWC Advisors LLC. now owns 5,083 shares of the software maker's stock worth $324,000 after acquiring an additional 1,268 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in Synaptics during the 1st quarter worth about $216,000. Cardinal Capital Management boosted its stake in shares of Synaptics by 15.8% during the 1st quarter. Cardinal Capital Management now owns 41,495 shares of the software maker's stock worth $2,644,000 after buying an additional 5,649 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Synaptics in the 1st quarter valued at about $320,000. Finally, Radnor Capital Management LLC acquired a new stake in shares of Synaptics in the first quarter valued at about $256,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Performance

Shares of NASDAQ:SYNA traded up $1.95 during trading on Wednesday, reaching $68.36. 332,351 shares of the stock were exchanged, compared to its average volume of 487,810. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00. The stock has a 50-day moving average price of $61.86 and a 200-day moving average price of $66.43. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.63 billion, a PE ratio of 16.55 and a beta of 1.70.

Synaptics (NASDAQ:SYNA - Get Free Report) last released 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 period in the previous year, the company posted $0.53 EPS. The firm'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 fiscal year.

Analysts Set New Price Targets

SYNA has been the subject of several analyst reports. Needham & Company LLC assumed coverage on shares of Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 target price for the company. Mizuho lowered their price objective on shares of 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Synaptics presently has an average rating of "Buy" and a consensus 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.