Victory Capital Management Inc. Boosts Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Victory Capital Management Inc. boosted its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 645,727 shares of the software maker's stock after purchasing an additional 67,975 shares during the period. Victory Capital Management Inc. owned about 1.65% of Synaptics worth $41,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYNA. Raymond James Financial Inc. bought a new position in Synaptics during the fourth quarter valued at approximately $371,000. Swiss National Bank lifted its position in Synaptics by 1.4% during the fourth 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 period. Cibc World Markets Corp bought a new position in Synaptics during the fourth quarter valued at approximately $283,000. Thrivent Financial for Lutherans raised its position in Synaptics by 37.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,779 shares of the software maker's stock worth $975,000 after acquiring an additional 3,500 shares during the period. Finally, Xponance Inc. raised its position in Synaptics by 7.2% in the fourth quarter. Xponance Inc. now owns 5,703 shares of the software maker's stock worth $435,000 after acquiring an additional 382 shares during the period. Institutional investors own 99.43% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC assumed coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $93.75.

Synaptics Price Performance

Shares of NASDAQ SYNA traded down $0.04 during midday trading on Wednesday, reaching $67.24. The stock had a trading volume of 254,884 shares, compared to its average volume of 492,444. The stock has a 50-day moving average of $64.43 and a 200-day moving average of $65.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.34 and a current ratio of 2.88. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 16.28 and a beta of 1.70. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $92.06.

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

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.