Wellington Management Group LLP Sells 335,962 Shares of Synaptics Incorporated $SYNA

Key Points

• Wellington Management Group LLP significantly reduced its stake in Synaptics Incorporated by 60.4%, selling 335,962 shares and retaining 220,681 shares worth approximately $14 million.
• Wall Street analysts have issued mixed ratings for Synaptics, with one downgrade to "hold" and one upgrade to "overweight," while the average price target is set at $91.33.
• Synaptics announced a $150 million stock repurchase program to buy back up to 6.5% of its shares, indicating management's belief that the stock is undervalued.

Wellington Management Group LLP decreased its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 60.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,681 shares of the software maker's stock after selling 335,962 shares during the quarter. Wellington Management Group LLP owned 0.56% of Synaptics worth $14,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SYNA. Raymond James Financial Inc. purchased a new position in shares of Synaptics during the fourth quarter valued at $371,000. First Trust Advisors LP purchased a new position in shares of Synaptics during the fourth quarter valued at $2,416,000. Dimensional Fund Advisors LP grew its holdings in shares of Synaptics by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,390 shares of the software maker's stock valued at $76,960,000 after buying an additional 74,433 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Synaptics by 304.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,129 shares of the software maker's stock valued at $391,000 after buying an additional 3,860 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Synaptics during the fourth quarter valued at $4,242,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SYNA. Needham & Company LLC began coverage on Synaptics in a report on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company. Wall Street Zen lowered Synaptics from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Barclays began coverage on Synaptics in a report on Monday, August 18th. They set an "overweight" rating and a $78.00 price objective for the company. Finally, Zacks Research lowered Synaptics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. One 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 company. According to MarketBeat, Synaptics presently has an average rating of "Moderate Buy" and a consensus price target of $91.33.

Synaptics Stock Down 2.1%

NASDAQ:SYNA traded down $1.51 during trading hours on Monday, reaching $69.86. The company's stock had a trading volume of 335,527 shares, compared to its average volume of 497,324. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -57.74 and a beta of 1.63. Synaptics Incorporated has a one year low of $41.80 and a one year high of $89.81. The business's 50-day moving average is $66.78 and its 200-day moving average is $62.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26.

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, topping 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%. Synaptics's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. Equities research analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.

Synaptics declared that its board has authorized a share buyback program on Thursday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors 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.