Synaptics Incorporated (NASDAQ:SYNA) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 15.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,495 shares of the software maker's stock after purchasing an additional 5,649 shares during the quarter. Cardinal Capital Management owned 0.11% of Synaptics worth $2,644,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Synaptics by 151.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after acquiring an additional 269 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Synaptics during the fourth quarter worth $31,000. Menard Financial Group LLC purchased a new position in shares of Synaptics during the fourth quarter worth $37,000. Aster Capital Management DIFC Ltd acquired a new position in Synaptics during the fourth quarter valued at $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Synaptics in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Synaptics Price Performance

Shares of Synaptics stock traded down $0.24 on Friday, hitting $63.32. The company's stock had a trading volume of 473,316 shares, compared to its average volume of 485,532. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 15.33 and a beta of 1.68. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $98.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.34 and a current ratio of 2.88. The firm has a fifty day moving average price of $59.01 and a 200-day moving average price of $67.38.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The company 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 earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Needham & Company LLC started coverage on Synaptics in a research note on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 target price on shares of Synaptics in a report on Thursday, February 27th. Finally, Mizuho decreased their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target 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.