Raymond James Financial Inc. Makes New Investment in Synaptics Incorporated (NASDAQ:SYNA)

Raymond James Financial Inc. acquired a new position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,865 shares of the software maker's stock, valued at approximately $371,000.

Several other institutional investors have also added to or reduced their stakes in SYNA. Brown Brothers Harriman & Co. bought a new position in Synaptics in the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of Synaptics in the 4th quarter worth about $43,000. KBC Group NV increased its stake in shares of Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock worth $137,000 after acquiring an additional 837 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Synaptics in the 4th quarter worth about $283,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Synaptics in the 4th quarter worth about $377,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Performance

Shares of NASDAQ SYNA traded down $0.20 during trading on Thursday, reaching $65.91. 92,990 shares of the company traded hands, compared to its average volume of 622,743. The firm has a 50 day simple moving average of $57.34 and a 200-day simple moving average of $69.70. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.58 billion, a PE ratio of 15.58 and a beta of 1.67. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. Equities research analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Synaptics in a research note on Friday, May 9th. They issued a "buy" rating and a $80.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and set a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Mizuho cut their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Susquehanna increased their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum raised shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $93.75.

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.