Insider Selling: Synaptics (NASDAQ:SYNA) Insider Sells 6,056 Shares of Stock

Key Points

• Synaptics insider Lisa Bodensteiner sold 6,056 shares at an average price of $103.62, totaling $627,522.72. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing her direct holdings by 7.15%.
• Synaptics shares fell 3.7% to $100.98, while the company reported quarterly EPS of $1.23 and revenue of $308 million, both slightly above analyst expectations. Revenue increased 8.9% year over year.
• Analyst sentiment is broadly neutral, with a consensus “Hold” rating and an average price target of $123.91; institutional investors own 99.43% of the stock.

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) insider Lisa Bodensteiner sold 6,056 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the transaction, the insider directly owned 78,634 shares of the company's stock, valued at $8,148,055.08. This represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.

Lisa Bodensteiner also recently made the following trade(s):

• On Thursday, June 18th, Lisa Bodensteiner sold 334 shares of Synaptics stock. The shares were sold at an average price of $138.28, for a total transaction of $46,185.52.

Synaptics Stock Down 3.7%

NASDAQ:SYNA traded down $3.85 during trading hours on Wednesday, reaching $100.98. 369,548 shares of the company traded hands, compared to its average volume of 883,173. 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's 50-day moving average price is $119.53 and its two-hundred day moving average price is $103.20. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The stock has a market capitalization of $3.95 billion, a P/E ratio of -7.98 and a beta of 1.99.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million for the quarter, compared to analysts' expectations of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. Synaptics's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Analysts predict that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Mizuho lifted their target price on shares of Synaptics from $128.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Craig Hallum set a $105.00 target price on shares of Synaptics in a research note on Friday, August 7th. Needham & Company LLC cut Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Finally, Weiss Ratings downgraded Synaptics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $123.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SYNA. State of Michigan Retirement System raised its holdings in shares of Synaptics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,333 shares of the software maker's stock valued at $654,000 after purchasing an additional 100 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Synaptics by 3.9% during the fourth quarter. LPL Financial LLC now owns 3,216 shares of the software maker's stock valued at $238,000 after purchasing an additional 121 shares in the last quarter. ABS Investment Management LLC purchased a new position in Synaptics during the second quarter valued at approximately $310,575,000. Northwestern Mutual Investment Management Company LLC increased its holdings in Synaptics by 1.5% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,724 shares of the software maker's stock valued at $646,000 after buying an additional 132 shares during the period. Finally, Captrust Financial Advisors raised its stake in Synaptics by 4.0% in the fourth quarter. Captrust Financial Advisors now owns 4,262 shares of the software maker's stock worth $315,000 after buying an additional 163 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors.

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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