Wellington Management Group LLP Reduces Holdings in 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 reduced its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,681 shares of the software maker's stock after selling 335,962 shares during the period. Wellington Management Group LLP owned about 0.56% of Synaptics worth $14,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trigran Investments Inc. grew its holdings in Synaptics by 5.5% during the 1st quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker's stock worth $72,050,000 after acquiring an additional 58,511 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Synaptics by 4.3% during the 1st quarter. Russell Investments Group Ltd. now owns 13,239 shares of the software maker's stock worth $844,000 after acquiring an additional 548 shares in the last quarter. Nuveen LLC acquired a new position in Synaptics during the 1st quarter worth approximately $6,596,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Synaptics by 369.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,298 shares of the software maker's stock worth $3,587,000 after acquiring an additional 44,315 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Synaptics by 1.6% during the 1st quarter. Deutsche Bank AG now owns 192,521 shares of the software maker's stock worth $12,267,000 after acquiring an additional 3,123 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Performance

Shares of SYNA stock traded down $1.51 during mid-day trading on Friday, hitting $69.86. The stock had a trading volume of 335,527 shares, compared to its average volume of 509,011. 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 Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $89.81. The company's 50-day simple moving average is $66.65 and its 200-day simple moving average is $62.92. The firm has a market cap of $2.70 billion, a PE ratio of -57.74 and a beta of 1.61.

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

Synaptics announced that its Board of Directors has approved 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 reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

SYNA has been the subject of several analyst reports. Barclays initiated coverage on shares of Synaptics in a report on Monday, August 18th. They set an "overweight" rating and a $78.00 price target for the company. Needham & Company LLC initiated coverage on shares of Synaptics in a report on Friday, May 9th. They set a "buy" rating and a $80.00 price target for the company. Wall Street Zen cut shares of Synaptics from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Zacks Research cut shares of Synaptics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.33.

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.