TimesSquare Capital Management LLC Sells 224,925 Shares of Synaptics Incorporated (NASDAQ:SYNA)

TimesSquare Capital Management LLC cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 42.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,410 shares of the software maker's stock after selling 224,925 shares during the quarter. TimesSquare Capital Management LLC owned 0.77% of Synaptics worth $19,206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after buying an additional 269 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Synaptics in the fourth quarter worth $31,000. Menard Financial Group LLC acquired a new stake in shares of Synaptics in the fourth quarter worth $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Synaptics in the fourth quarter worth $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Synaptics in the fourth quarter worth $72,000. 99.43% of the stock is owned by institutional investors.

Synaptics Stock Down 0.8%

NASDAQ SYNA traded down $0.51 during trading on Friday, hitting $66.49. 198,191 shares of the company traded hands, compared to its average volume of 488,936. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $96.29. The business has a fifty day simple moving average of $64.21 and a 200 day simple moving average of $65.72. 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 company has a market capitalization of $2.56 billion, a P/E ratio of 16.07 and a beta of 1.70.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating 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 company had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.03 million. During the same period last year, the company earned $0.53 earnings per share. The business's revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.

Wall Street Analyst Weigh In

SYNA has been the subject of several recent analyst reports. Mizuho decreased their target price on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $93.75.

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.