Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,000 shares of the software maker's stock after selling 9,900 shares during the quarter. Swiss National Bank owned 0.20% of Synaptics worth $8,784,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Synaptics by 1.6% during the third 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. Wellington Management Group LLP increased its stake in shares of Synaptics by 3.1% in the third quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker's stock worth $118,885,000 after buying an additional 39,352 shares during the period. Ameriprise Financial Inc. raised its holdings in Synaptics by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker's stock valued at $369,500,000 after buying an additional 116,276 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Synaptics by 10.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker's stock valued at $8,932,000 after buying an additional 9,141 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Synaptics in the 3rd quarter worth $2,271,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYNA shares. StockNews.com raised Synaptics from a "sell" rating to a "hold" rating in a research note on Monday, February 12th. Craig Hallum lowered 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. Susquehanna upped their target price on Synaptics from $130.00 to $135.00 and gave the company a "positive" rating in a report on Friday, February 9th. TD Cowen cut their price target on shares of Synaptics from $135.00 to $115.00 and set a "buy" rating on the stock in a report on Friday. Finally, Rosenblatt Securities raised their target price on shares of Synaptics from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Synaptics currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.67.

Synaptics Stock Up 1.3 %

Shares of SYNA traded up $1.19 on Tuesday, hitting $89.57. 280,139 shares of the stock traded hands, compared to its average volume of 293,518. The company has a market capitalization of $3.54 billion, a PE ratio of -33.05 and a beta of 1.59. Synaptics Incorporated has a one year low of $73.38 and a one year high of $121.37. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.32. The business has a 50 day simple moving average of $93.51 and a 200 day simple moving average of $101.08.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.04. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. The firm had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. During the same period in the prior year, the company posted $1.14 earnings per share. The company's quarterly revenue was down 27.3% on a year-over-year basis. As a group, equities analysts forecast that Synaptics Incorporated will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 3,616 shares of the company's stock in a transaction on 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 $3,367,820.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

About Synaptics

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.