Two Sigma Securities LLC Increases Position in Synaptics Incorporated $SYNA

Key Points

• Two Sigma Securities increased its Synaptics position by 813.4% in the second quarter, ending with 36,072 shares worth approximately $4.48 million. Institutional investors collectively own 99.43% of the company.
• Synaptics exceeded quarterly expectations, reporting $1.23 in adjusted earnings per share and $308 million in revenue, up 8.9% year over year. However, the company posted a negative net margin of 41%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $123.91 price target; shares recently opened at $95.08, well below the consensus target.

Two Sigma Securities LLC increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 813.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,072 shares of the software maker's stock after acquiring an additional 32,123 shares during the quarter. Two Sigma Securities LLC owned approximately 0.09% of Synaptics worth $4,481,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYNA. CoreCap Advisors LLC purchased a new position in shares of Synaptics during the 2nd quarter worth $25,000. CIBC Private Wealth Group LLC grew its position in shares of Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock valued at $26,000 after purchasing an additional 190 shares during the period. Allworth Financial LP purchased a new stake in shares of Synaptics in the second quarter valued at $33,000. Leonteq Securities AG purchased a new stake in shares of Synaptics in the fourth quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new position in Synaptics in the second quarter valued at $54,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Synaptics news, insider Lisa Bodensteiner sold 6,056 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the completion of the sale, the insider owned 78,634 shares in the company, valued at $8,148,055.08. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 437 shares of Synaptics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider directly owned 14,683 shares of the company's stock, valued at $1,522,333.44. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 15,867 shares of company stock worth $1,624,996. 0.50% of the stock is currently owned by corporate insiders.

Synaptics Stock Performance

Shares of NASDAQ:SYNA opened at $95.08 on Monday. The business has a 50-day moving average of $113.13 and a two-hundred day moving average of $103.80. The firm has a market capitalization of $3.72 billion, a PE ratio of -7.52 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm had revenue of $308.00 million during the quarter, compared to analysts' expectations of $305.32 million. During the same period in the prior year, the company earned $1.01 EPS. The firm's revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYNA. Deutsche Bank Aktiengesellschaft lowered Synaptics from a "buy" rating to a "hold" rating and set a $125.00 price target on the stock. in a research note on Monday, June 29th. Needham & Company LLC downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. Zacks Research upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Susquehanna decreased their target price on shares of Synaptics from $140.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of Synaptics from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $123.91.

Synaptics Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.

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