Orbis Allan Gray Ltd Has $140.64 Million Holdings in Synaptics Incorporated $SYNA

Key Points

• Orbis Allan Gray Ltd has reduced its stake in Synaptics Incorporated by 3.0%, now holding 2,207,130 shares valued at approximately $140.6 million.
• Analysts have mixed opinions on Synaptics, with Needham & Company initiating coverage with a "buy" rating and a price target of $80, while Zacks and Wall Street Zen downgraded the stock to "strong sell" and "hold," respectively.
• Synaptics reported an earnings per share (EPS) of $1.01 for the last quarter, exceeding the consensus estimate and showing a revenue increase of 14.3% year-over-year.

Orbis Allan Gray Ltd reduced its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,207,130 shares of the software maker's stock after selling 67,859 shares during the period. Orbis Allan Gray Ltd owned about 5.63% of Synaptics worth $140,638,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYNA. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics during the 1st quarter valued at about $25,000. Parallel Advisors LLC lifted its holdings 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 purchasing an additional 269 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Synaptics in the first quarter worth about $35,000. Menard Financial Group LLC bought a new position in shares of Synaptics in the fourth quarter worth about $37,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Synaptics by 32.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock worth $65,000 after acquiring an additional 249 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYNA shares. Zacks Research downgraded shares of Synaptics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. Barclays started coverage on shares of Synaptics in a research note on Monday, August 18th. They issued an "overweight" rating and a $78.00 target price for the company. Wall Street Zen downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Needham & Company LLC started coverage on shares of Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.33.

Synaptics Trading Down 2.7%

NASDAQ SYNA traded down $1.86 during trading on Tuesday, reaching $68.00. 248,024 shares of the stock traded hands, compared to its average volume of 529,865. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -56.20 and a beta of 1.63. The stock's 50-day moving average price is $66.78 and its 200 day moving average price is $62.77. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $89.81.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. The firm had revenue of $282.80 million during the quarter, compared to analysts' expectations of $280.12 million. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. Analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.

Synaptics declared that its board has authorized a stock buyback plan on Thursday, August 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

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.