Fisher Asset Management LLC Trims Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Fisher Asset Management LLC cut its stake in Synaptics Incorporated (NASDAQ:SYNA) by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 807,145 shares of the software maker’s stock after selling 173,575 shares during the quarter. Fisher Asset Management LLC owned about 2.05% of Synaptics worth $92,079,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in 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 period. Ameriprise Financial Inc. boosted its stake in Synaptics by 2.9% during the third 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 period. Wellington Management Group LLP boosted its stake in Synaptics by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after buying an additional 44,548 shares during the period. FMR LLC lifted 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 worth $100,579,000 after purchasing an additional 317,307 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Synaptics by 49.1% during the third quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock worth $39,172,000 after purchasing an additional 144,252 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp dropped their price target on Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Needham & Company LLC dropped their price target on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Wells Fargo & Company dropped their price target on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, TD Cowen dropped their price target on Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.67.

Synaptics Trading Down 2.4 %

NASDAQ SYNA opened at $91.95 on Monday. Synaptics Incorporated has a 1-year low of $73.38 and a 1-year high of $121.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78. The stock has a 50-day moving average of $90.58 and a 200-day moving average of $100.51.

Synaptics (NASDAQ:SYNA) 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 company had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. During the same quarter in the previous year, the business earned $1.14 EPS. Synaptics’s revenue was down 27.3% compared to the same quarter last year. Research analysts expect that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

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.