Cubist Systematic Strategies LLC Buys 29,701 Shares of Synaptics Incorporated $SYNA

Key Points

• Cubist Systematic Strategies LLC boosted its stake in Synaptics by 43.6%, acquiring a total of 97,838 shares worth approximately $6.23 million.
• Synaptics reported a quarterly earnings per share of $1.01, surpassing analysts' expectations, with revenue rising 14.3% year-over-year.
• The company has initiated a $150 million stock repurchase program, indicating management's belief that its shares are undervalued.

Cubist Systematic Strategies LLC grew its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 43.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 97,838 shares of the software maker's stock after buying an additional 29,701 shares during the period. Cubist Systematic Strategies LLC owned 0.25% of Synaptics worth $6,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Synaptics by 32.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock worth $65,000 after purchasing an additional 249 shares during the period. Parallel Advisors LLC grew its stake in shares of Synaptics by 151.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after purchasing an additional 269 shares during the period. CWM LLC grew its stake in shares of Synaptics by 32.2% during the first quarter. CWM LLC now owns 1,403 shares of the software maker's stock worth $89,000 after purchasing an additional 342 shares during the period. Quarry LP grew its stake in shares of Synaptics by 220.0% during the first quarter. Quarry LP now owns 528 shares of the software maker's stock worth $34,000 after purchasing an additional 363 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics during the first quarter worth $25,000. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYNA has been the subject of a number of analyst reports. Barclays initiated coverage on Synaptics in a research note on Monday, August 18th. They set an "overweight" rating and a $78.00 price objective for the company. Wall Street Zen cut Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Finally, Zacks Research cut Synaptics from a "hold" rating to a "strong sell" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.33.

Synaptics Stock Up 0.5%

Shares of Synaptics stock traded up $0.34 during trading on Friday, reaching $69.90. The stock had a trading volume of 348,305 shares, compared to its average volume of 436,173. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -57.77 and a beta of 1.63. The stock has a fifty day moving average price of $67.05 and a two-hundred day moving average price of $62.72. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $89.81. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60.

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

Synaptics announced that its Board of Directors has approved a share repurchase plan on Thursday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.