Victory Capital Management Inc. Buys 365,282 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Victory Capital Management Inc. boosted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 1,255.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,383 shares of the software maker's stock after acquiring an additional 365,282 shares during the period. Victory Capital Management Inc. owned 1.01% of Synaptics worth $44,991,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SYNA. Vanguard Group Inc. raised its stake in Synaptics by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker's stock valued at $419,691,000 after buying an additional 72,044 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker's stock worth $369,500,000 after buying an additional 116,276 shares in the last quarter. Wellington Management Group LLP grew its stake in Synaptics by 3.1% during the third quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker's stock valued at $118,885,000 after acquiring an additional 39,352 shares in the last quarter. FMR LLC grew its stake in Synaptics by 39.3% during the third quarter. FMR LLC now owns 1,124,544 shares of the software maker's stock valued at $100,579,000 after acquiring an additional 317,307 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Synaptics by 9.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,124,477 shares of the software maker's stock worth $100,573,000 after purchasing an additional 94,015 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 3,616 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total transaction of $382,392.00. Following the completion of the sale, the insider now owns 31,847 shares in the company, valued at approximately $3,367,820.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Synaptics Stock Performance

NASDAQ:SYNA traded up $0.89 during midday trading on Monday, reaching $91.20. The stock had a trading volume of 168,011 shares, compared to its average volume of 282,786. The stock has a market cap of $3.58 billion, a P/E ratio of -45.38 and a beta of 1.59. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. Synaptics Incorporated has a 12-month low of $72.64 and a 12-month high of $121.37. The firm has a fifty day simple moving average of $95.23 and a two-hundred day simple moving average of $100.88.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.11. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm had revenue of $237.00 million during the quarter, compared to analysts' expectations of $235.26 million. During the same period in the prior year, the company posted $1.47 earnings per share. The firm's revenue for the quarter was down 32.9% on a year-over-year basis. On average, equities analysts expect that Synaptics Incorporated will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SYNA shares. Craig Hallum downgraded Synaptics from a "buy" rating to a "hold" rating and set a $105.00 price objective on the stock. in a research report on Friday, February 9th. StockNews.com raised Synaptics from a "sell" rating to a "hold" rating in a research report on Monday, February 12th. TD Cowen lifted their price objective on shares of Synaptics from $115.00 to $135.00 and gave the company an "outperform" rating in a report on Friday, February 9th. KeyCorp increased their target price on shares of Synaptics from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 9th. Finally, Rosenblatt Securities upped their price objective on Synaptics from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $122.67.

Synaptics 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.