Synaptics (NASDAQ:SYNA) Insider Sells 437 Shares of Stock

Key Points

• Synaptics insider Esther Song sold 437 shares for approximately $45,308 at an average price of $103.68. The transaction was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving her with 14,683 shares.
• SYNA shares fell 3.7% to $100.98, below the 50-day moving average of $119.53 but near the 200-day average of $103.20. The stock has traded between $58.28 and $149.11 over the past year.
• Synaptics slightly exceeded quarterly earnings and revenue expectations, reporting $1.23 in EPS and $308 million in revenue, with revenue up 8.9% year over year. Analysts maintain an overall “Hold” rating, with an average price target of $123.91.

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) insider Esther Song sold 437 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider directly owned 14,683 shares of the company's stock, valued at approximately $1,522,333.44. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.

Esther Song also recently made the following trade(s):

• On Thursday, June 18th, Esther Song sold 126 shares of Synaptics stock. The shares were sold at an average price of $138.28, for a total transaction of $17,423.28.
• On Thursday, May 28th, Esther Song sold 8,833 shares of Synaptics stock. The shares were sold at an average price of $141.17, for a total transaction of $1,246,954.61.

Synaptics Trading Down 3.7%

SYNA stock traded down $3.85 during trading on Wednesday, hitting $100.98. The company had a trading volume of 369,548 shares, compared to its average volume of 883,173. The firm has a 50-day moving average price of $119.53 and a 200-day moving average price of $103.20. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -7.98 and a beta of 1.99.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. As a group, analysts predict that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYNA has been the subject of a number of research reports. Wall Street Zen upgraded Synaptics from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Rosenblatt Securities reduced their target price on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company lowered their price target on shares of Synaptics from $160.00 to $140.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft lowered shares of Synaptics from a "buy" rating to a "hold" rating and set a $125.00 price objective on the stock. in a report on Monday, June 29th. Finally, Weiss Ratings cut shares of Synaptics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. One equities 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's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $123.91.

Hedge Funds Weigh In On Synaptics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System acquired a new stake in Synaptics in the first quarter worth $784,000. Intech Investment Management LLC grew its holdings in shares of Synaptics by 186.4% in the 4th quarter. Intech Investment Management LLC now owns 70,287 shares of the software maker's stock valued at $5,203,000 after buying an additional 45,746 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Synaptics in the 2nd quarter valued at $1,428,000. Geode Capital Management LLC increased its position in shares of Synaptics by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker's stock valued at $74,066,000 after buying an additional 17,088 shares in the last quarter. Finally, Trigran Investments Inc. raised its stake in Synaptics by 4.7% during the 4th quarter. Trigran Investments Inc. now owns 692,587 shares of the software maker's stock worth $51,265,000 after buying an additional 31,150 shares during the period. Institutional investors own 99.43% of the company's stock.

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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