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

Peregrine Capital Management LLC lifted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,377 shares of the software maker's stock after purchasing an additional 11,548 shares during the quarter. Peregrine Capital Management LLC owned 0.55% of Synaptics worth $13,788,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SYNA. Parallel Advisors LLC raised its holdings in Synaptics by 151.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after buying an additional 269 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Synaptics during the fourth quarter worth $31,000. Menard Financial Group LLC bought a new stake in Synaptics in the 4th quarter valued at $37,000. Aster Capital Management DIFC Ltd acquired a new position in Synaptics in the 4th quarter worth $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in Synaptics during the 4th quarter worth about $72,000. Institutional investors own 99.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYNA. Mizuho cut their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. 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 on the stock. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $93.75.

Synaptics Stock Up 0.4%

Shares of NASDAQ SYNA traded up $0.27 during mid-day trading on Thursday, hitting $68.63. The company had a trading volume of 203,170 shares, compared to its average volume of 486,676. 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 50-day simple moving average of $61.86 and a two-hundred day simple moving average of $66.43. The company has a market capitalization of $2.65 billion, a PE ratio of 16.62 and a beta of 1.70. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00.

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, 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 firm had revenue of $266.60 million during the quarter, compared to analysts' expectations of $265.03 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts expect that Synaptics Incorporated will post 0.96 EPS for the current year.

Synaptics 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.