Rhumbline Advisers Sells 5,354 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Rhumbline Advisers reduced its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,124 shares of the software maker's stock after selling 5,354 shares during the quarter. Rhumbline Advisers owned about 0.33% of Synaptics worth $8,228,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Parallel Advisors LLC lifted its position in Synaptics by 151.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after buying an additional 269 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Synaptics during the 4th quarter valued at $31,000. Menard Financial Group LLC acquired a new position in shares of Synaptics during the 4th quarter valued at $37,000. Aster Capital Management DIFC Ltd purchased a new stake in Synaptics during the 4th quarter worth $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Synaptics in the 4th quarter valued at $72,000. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Down 1.5%

Synaptics stock traded down $0.99 during trading hours on Thursday, hitting $63.73. The company had a trading volume of 59,027 shares, compared to its average volume of 482,170. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week 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. The firm has a market capitalization of $2.46 billion, a P/E ratio of 15.07 and a beta of 1.68. The firm's fifty day moving average is $57.09 and its 200-day moving average is $68.07.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. 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 previous year, the company earned $0.53 earnings per share. The company's revenue was up 12.3% compared to the same quarter last year. On average, research analysts forecast that Synaptics Incorporated will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYNA has been the subject of several recent research reports. Needham & Company LLC started coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price objective for the company. Mizuho dropped their price target 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. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Synaptics presently has a consensus rating of "Buy" and a consensus target price of $93.75.

About Synaptics

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.