Teacher Retirement System of Texas Purchases New Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Teacher Retirement System of Texas bought a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,855 shares of the software maker's stock, valued at approximately $373,000.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC began coverage on Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company. Mizuho decreased their price objective on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $93.75.

Synaptics Price Performance

SYNA stock traded down $0.78 on Friday, reaching $66.22. 391,780 shares of the company's stock were exchanged, compared to its average volume of 490,845. The stock has a fifty day moving average of $64.34 and a 200-day moving average of $65.65. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $93.64. The firm has a market cap of $2.55 billion, a PE ratio of 16.03 and a beta of 1.70. The company has a quick ratio of 2.34, a current ratio of 2.88 and a debt-to-equity ratio of 0.60.

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

About Synaptics

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.