Federated Hermes Inc. Sells 30,453 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Federated Hermes Inc. trimmed its stake in Synaptics Incorporated (NASDAQ:SYNA) by 57.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,470 shares of the software maker’s stock after selling 30,453 shares during the period. Federated Hermes Inc. owned about 0.06% of Synaptics worth $1,982,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Heron Bay Capital Management grew its holdings in shares of Synaptics by 1.3% in the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock worth $897,000 after purchasing an additional 116 shares during the last quarter. US Bancorp DE increased its holdings in shares of Synaptics by 3.5% during the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock worth $352,000 after buying an additional 123 shares in the last quarter. CWM LLC raised its stake in shares of Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after acquiring an additional 139 shares during the last quarter. Bridge City Capital LLC boosted its holdings in shares of Synaptics by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock worth $1,863,000 after acquiring an additional 149 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after acquiring an additional 163 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Down 4.0 %

NASDAQ:SYNA opened at $73.78 on Friday. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a 12-month low of $67.83 and a 12-month high of $121.37. The stock’s fifty day simple moving average is $79.30 and its 200-day simple moving average is $87.84. The firm has a market capitalization of $2.95 billion, a P/E ratio of -27.23 and a beta of 1.47.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SYNA shares. TD Cowen reduced their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. KeyCorp reduced their target price 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. Craig Hallum lowered their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reduced 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.44.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $149,600.00. Following the transaction, the insider now directly owns 46,797 shares of the company’s stock, valued at $3,743,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 3,135 shares of company stock valued at $252,381. Corporate insiders own 1.20% of the company’s stock.

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.