Schonfeld Strategic Advisors LLC Raises Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Schonfeld Strategic Advisors LLC raised its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 1,102.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,859 shares of the software maker's stock after purchasing an additional 35,627 shares during the quarter. Schonfeld Strategic Advisors LLC owned about 0.10% of Synaptics worth $2,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new position in Synaptics during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Synaptics in the 4th quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Synaptics in the fourth quarter valued at $72,000. Sterling Capital Management LLC raised its position in Synaptics by 811.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker's stock valued at $88,000 after purchasing an additional 1,031 shares during the last quarter. Finally, KBC Group NV increased its stake in Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock valued at $137,000 after buying an additional 837 shares during the period. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Up 2.7 %

Shares of SYNA traded up $1.56 on Thursday, reaching $59.79. The company's stock had a trading volume of 681,377 shares, compared to its average volume of 470,654. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $98.00. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $57.34 and a 200-day moving average of $69.92. The stock has a market capitalization of $2.34 billion, a PE ratio of 14.13 and a beta of 1.67.

Insider Buying and Selling

In related news, insider Ken Rizvi acquired 3,600 shares of the firm's stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the acquisition, the insider now owns 27,630 shares of the company's stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on SYNA shares. Craig Hallum raised shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 target price on shares of Synaptics in a report on Tuesday, February 4th. Susquehanna boosted their price objective on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Rosenblatt Securities restated a "buy" rating and set a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Finally, Mizuho cut their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.00.

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.