Wellington Management Group LLP Buys 95,432 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Wellington Management Group LLP boosted its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 556,643 shares of the software maker's stock after purchasing an additional 95,432 shares during the period. Wellington Management Group LLP owned about 1.42% of Synaptics worth $42,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYNA. Brown Brothers Harriman & Co. purchased a new stake in shares of Synaptics during the fourth quarter valued at approximately $31,000. Menard Financial Group LLC bought a new stake in shares of Synaptics during the 4th quarter worth $37,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Synaptics in the 4th quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Synaptics during the fourth quarter worth about $72,000. Finally, Sterling Capital Management LLC raised its position in Synaptics by 811.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker's stock worth $88,000 after acquiring an additional 1,031 shares during the period. Hedge funds and other institutional investors own 99.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Needham & Company LLC initiated coverage on Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Mizuho lowered 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Synaptics has a consensus rating of "Buy" and a consensus price target of $93.75.

Synaptics Price Performance

SYNA traded up $3.25 during midday trading on Tuesday, hitting $62.50. The stock had a trading volume of 378,486 shares, compared to its average volume of 475,350. The company has a market cap of $2.41 billion, a P/E ratio of 14.78 and a beta of 1.67. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $98.00. The business has a fifty day moving average of $56.58 and a 200 day moving average of $68.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The business had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. During the same period in the previous year, the firm earned $0.53 EPS. The business's quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast 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.