Insider Selling: Synaptics (NASDAQ:SYNA) Insider Sells 4,277 Shares

Key Points

• Synaptics insider Vikram Gupta sold 4,277 shares at an average price of $94.49, generating $404,133.73. The transaction, executed under a Rule 10b5-1 plan, reduced his direct holdings by 4.13% to 99,191 shares.
• Synaptics shares rose 1.5% to $96.30, but remain below their 50-day moving average of $115.67. The company recently exceeded quarterly EPS and revenue expectations, with revenue up 8.9% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $123.91. Institutional investors and hedge funds own 99.43% of the company’s shares.

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) insider Vikram Gupta sold 4,277 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total value of $404,133.73. Following the completion of the transaction, the insider directly owned 99,191 shares in the company, valued at $9,372,557.59. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vikram Gupta also recently made the following trade(s):

• On Tuesday, August 18th, Vikram Gupta sold 4,277 shares of Synaptics stock. The shares were sold at an average price of $103.65, for a total transaction of $443,311.05.
• On Monday, July 27th, Vikram Gupta sold 360 shares of Synaptics stock. The shares were sold at an average price of $114.20, for a total transaction of $41,112.00.

Synaptics Stock Up 1.5%

Shares of NASDAQ SYNA traded up $1.43 during mid-day trading on Wednesday, reaching $96.30. 368,928 shares of the company's stock were exchanged, compared to its average volume of 877,165. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -7.61 and a beta of 1.99. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $115.67 and a 200 day simple moving average of $103.62. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a "buy" rating to a "hold" rating and set a $125.00 target price for the company. in a research report on Monday, June 29th. JPMorgan Chase & Co. increased their price target on Synaptics from $100.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Rosenblatt Securities reduced their price objective on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Mizuho upped their price target on shares of Synaptics from $128.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Finally, TD Cowen downgraded Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. One investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $123.91.

Hedge Funds Weigh In On Synaptics

Institutional investors have recently added to or reduced their stakes in the stock. ABS Investment Management LLC acquired a new stake in Synaptics in the second quarter valued at approximately $310,575,000. CoreCap Advisors LLC acquired a new position in shares of Synaptics in the second quarter worth approximately $25,000. Allworth Financial LP bought a new stake in shares of Synaptics in the 2nd quarter valued at $33,000. CIBC Private Wealth Group LLC grew its holdings in Synaptics by 119.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock worth $26,000 after acquiring an additional 190 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Synaptics during the second quarter worth approximately $61,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source