Synaptics Incorporated (NASDAQ:SYNA) Shares Acquired by Choreo LLC

Choreo LLC increased its stake in Synaptics Incorporated (NASDAQ:SYNA) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,845 shares of the software maker’s stock after purchasing an additional 180 shares during the quarter. Choreo LLC’s holdings in Synaptics were worth $417,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SYNA. Quantbot Technologies LP bought a new stake in Synaptics in the first quarter worth about $586,000. UBS Group AG raised its position in Synaptics by 26.8% in the fourth quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock worth $12,031,000 after acquiring an additional 22,308 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after acquiring an additional 6,276 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after acquiring an additional 75,680 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Synaptics by 34.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after acquiring an additional 100,150 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. KeyCorp dropped their price target on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. TD Cowen dropped their price target on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC cut their price objective on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Craig Hallum cut their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Synaptics presently has a consensus rating of “Moderate Buy” and an average target price of $105.44.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 3,394 shares of company stock worth $275,691 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Synaptics Price Performance

Shares of SYNA opened at $76.69 on Tuesday. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -28.30 and a beta of 1.47. Synaptics Incorporated has a fifty-two week low of $67.83 and a fifty-two week high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The business’s 50-day moving average is $80.66 and its 200-day moving average is $88.61.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. Equities research analysts expect that Synaptics Incorporated will post 0.72 EPS for the current fiscal year.

Synaptics 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.