Rhumbline Advisers Lowers Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Rhumbline Advisers reduced its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,124 shares of the software maker's stock after selling 5,354 shares during the period. Rhumbline Advisers owned 0.33% of Synaptics worth $8,228,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SYNA. Parallel Advisors LLC lifted its position in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after buying an additional 269 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Synaptics during the fourth quarter worth approximately $31,000. Menard Financial Group LLC bought a new stake in Synaptics during the fourth quarter worth approximately $37,000. Aster Capital Management DIFC Ltd bought a new stake in Synaptics during the fourth quarter worth approximately $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Synaptics during the fourth quarter worth approximately $72,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Trading Down 4.0%

Shares of SYNA traded down $2.59 during mid-day trading on Friday, reaching $61.55. 365,226 shares of the company's stock traded hands, compared to its average volume of 485,882. The stock has a market cap of $2.37 billion, a P/E ratio of 14.55 and a beta of 1.68. The stock's 50-day moving average is $57.84 and its two-hundred day moving average is $67.75. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm 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 company's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Research analysts forecast that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on SYNA. Rosenblatt Securities reissued a "buy" rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Needham & Company LLC began coverage on Synaptics in a research note on Friday, May 9th. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Mizuho reduced 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 equities research 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 company. According to data from MarketBeat.com, the stock presently has a consensus 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.