Trigran Investments Inc. Purchases 58,511 Shares of Synaptics Incorporated $SYNA

Key Points

• Trigran Investments Inc. increased its stake in Synaptics by 5.5% during Q1, now holding approximately 1,130,733 shares valued at $72.05 million, making it the largest position in their investment portfolio.
• Synaptics has recently received positive analyst ratings, with reports indicating a consensus "Buy" rating and an average target price of $94.00.
• The company has authorized a $150 million stock buyback program, signaling potential confidence in its share value and intending to repurchase up to 6.5% of outstanding shares.

Trigran Investments Inc. grew its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130,733 shares of the software maker's stock after acquiring an additional 58,511 shares during the period. Synaptics accounts for approximately 10.6% of Trigran Investments Inc.'s holdings, making the stock its largest position. Trigran Investments Inc. owned approximately 2.89% of Synaptics worth $72,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Toronto Dominion Bank bought a new position in Synaptics in the fourth quarter valued at approximately $152,895,000. Segall Bryant & Hamill LLC bought a new position in Synaptics in the first quarter valued at approximately $31,801,000. Deutsche Bank AG grew its stake in Synaptics by 341.9% in the fourth quarter. Deutsche Bank AG now owns 189,398 shares of the software maker's stock valued at $14,455,000 after purchasing an additional 146,540 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Synaptics by 169.2% in the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker's stock valued at $16,388,000 after purchasing an additional 134,945 shares in the last quarter. Finally, Nuveen LLC bought a new position in Synaptics in the first quarter valued at approximately $6,596,000. Institutional investors own 99.43% of the company's stock.

Synaptics Stock Performance

Synaptics stock traded down $1.50 during trading hours on Wednesday, hitting $66.76. The company had a trading volume of 540,986 shares, compared to its average volume of 539,456. The firm has a 50-day moving average of $65.65 and a 200 day moving average of $63.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. The firm has a market cap of $2.57 billion, a PE ratio of -55.17 and a beta of 1.61. Synaptics Incorporated has a one year low of $41.80 and a one year high of $89.81.

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

Synaptics announced that its Board of Directors has initiated a share repurchase program on Thursday, August 7th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

SYNA has been the subject of a number of analyst reports. Barclays initiated coverage on Synaptics in a research note on Monday. They issued an "overweight" rating and a $78.00 price target for the company. Needham & Company LLC started coverage on Synaptics in a report on Friday, May 9th. They set a "buy" rating and a $80.00 price target for the company. Zacks Research downgraded Synaptics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Wall Street Zen raised Synaptics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research 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 stock. Based on data from MarketBeat, Synaptics presently has a consensus 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.