Teacher Retirement System of Texas Acquires Shares of 5,855 Synaptics Incorporated (NASDAQ:SYNA)

Teacher Retirement System of Texas purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,855 shares of the software maker's stock, valued at approximately $373,000.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Synaptics during the 4th quarter worth $371,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Synaptics by 42.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,983 shares of the software maker's stock worth $915,000 after acquiring an additional 3,577 shares during the last quarter. Swiss National Bank grew its position in Synaptics by 1.4% during the 4th quarter. Swiss National Bank now owns 78,500 shares of the software maker's stock worth $5,991,000 after acquiring an additional 1,100 shares during the last quarter. Royce & Associates LP grew its position in Synaptics by 253.2% during the 4th quarter. Royce & Associates LP now owns 26,602 shares of the software maker's stock worth $2,030,000 after acquiring an additional 19,070 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Synaptics during the 4th quarter worth $283,000. Institutional investors and hedge funds own 99.43% of the company's stock.

Analysts Set New Price Targets

SYNA has been the topic of a number of analyst reports. Needham & Company LLC initiated coverage on Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. Mizuho reduced their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $93.75.

Synaptics Stock Up 1.6%

SYNA stock traded up $1.04 during trading on Monday, reaching $67.26. 429,160 shares of the stock were exchanged, compared to its average volume of 491,837. The firm's 50 day moving average is $64.34 and its 200 day moving average is $65.46. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $93.64. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.59 billion, a P/E ratio of 16.29 and a beta of 1.70.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The company's quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, research analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current year.

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.