Vanguard Group Inc. Has $341.03 Million Position in Synaptics Incorporated $SYNA

Key Points

• Vanguard Group trimmed its stake by 0.5% to 4,607,318 shares—representing 11.82% of Synaptics and valued at $341.03 million at quarter-end.
• Synaptics beat expectations with quarterly EPS of $1.21 (vs. $1.15 est.) and revenue of $302.5M (up 13.2% YoY), though the firm reported a negative net margin of 5.41%.
• Analysts maintain a consensus “Moderate Buy” with a $99.91 target overall; JPMorgan and Mizuho recently raised price targets to $100 and $103 respectively, while ratings tally 10 Buys, 2 Holds and 2 Sells.

Vanguard Group Inc. lessened its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,607,318 shares of the software maker's stock after selling 21,085 shares during the period. Vanguard Group Inc. owned 11.82% of Synaptics worth $341,034,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Synaptics by 0.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,135 shares of the software maker's stock valued at $1,146,000 after acquiring an additional 134 shares during the period. Optiver Holding B.V. lifted its position in shares of Synaptics by 40.2% during the 3rd quarter. Optiver Holding B.V. now owns 593 shares of the software maker's stock valued at $41,000 after acquiring an additional 170 shares during the period. Retirement Systems of Alabama increased its stake in Synaptics by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 59,295 shares of the software maker's stock valued at $4,389,000 after purchasing an additional 192 shares in the last quarter. California State Teachers Retirement System increased its stake in Synaptics by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 36,853 shares of the software maker's stock valued at $2,389,000 after purchasing an additional 209 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Synaptics by 3.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,617 shares of the software maker's stock valued at $490,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Price Performance

SYNA opened at $105.80 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.93 and a quick ratio of 2.33. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -66.54, a P/E/G ratio of 4.06 and a beta of 1.86. The firm's fifty day moving average price is $79.18 and its two-hundred day moving average price is $77.86. Synaptics Incorporated has a 1 year low of $57.54 and a 1 year high of $110.43.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The software maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.06. The firm had revenue of $302.50 million for the quarter, compared to the consensus estimate of $300.31 million. Synaptics had a negative net margin of 5.41% and a positive return on equity of 4.77%. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. As a group, analysts anticipate that Synaptics Incorporated will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen restated a "buy" rating on shares of Synaptics in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Synaptics from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Craig Hallum restated a "hold" rating and set a $80.00 price target on shares of Synaptics in a research note on Friday, February 6th. Weiss Ratings restated a "sell (d)" rating on shares of Synaptics in a research note on Tuesday, April 21st. Finally, Mizuho boosted their price target on shares of Synaptics from $94.00 to $103.00 and gave the company an "outperform" rating in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.91.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,548 shares of Synaptics stock in a transaction on Monday, April 27th. The shares were sold at an average price of $92.90, for a total transaction of $143,809.20. Following the transaction, the insider directly owned 87,382 shares of the company's stock, valued at $8,117,787.80. The trade was a 1.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 1,798 shares of Synaptics stock in a transaction on Monday, April 20th. The stock was sold at an average price of $81.87, for a total transaction of $147,202.26. Following the transaction, the insider directly owned 65,183 shares in the company, valued at $5,336,532.21. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 7,348 shares of company stock worth $618,827 over the last ninety days. Insiders own 0.50% of the company's stock.

Synaptics Company 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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