Cubist Systematic Strategies LLC Buys 16,546 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Cubist Systematic Strategies LLC raised its stake in Synaptics Incorporated (NASDAQ:SYNA) by 1,121.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,021 shares of the software maker’s stock after buying an additional 16,546 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Synaptics were worth $1,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Synaptics by 3.4% in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Synaptics by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after purchasing an additional 193,182 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Synaptics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock valued at $80,027,000 after purchasing an additional 31,643 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Synaptics by 39.1% in the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after purchasing an additional 153,434 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Synaptics by 34.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after purchasing an additional 100,150 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

Insider Activity

In other news, insider Vikram Gupta sold 1,870 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $149,600.00. Following the completion of the sale, the insider now owns 46,797 shares of the company’s stock, valued at $3,743,760. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 5,609 shares of company stock valued at $448,720. 1.20% of the stock is owned by company insiders.

Synaptics Price Performance

NASDAQ:SYNA opened at $75.39 on Wednesday. Synaptics Incorporated has a one year low of $67.83 and a one year high of $121.37. The company has a market cap of $3.01 billion, a P/E ratio of -27.82 and a beta of 1.47. The firm’s fifty day moving average price is $77.26 and its two-hundred day moving average price is $86.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYNA shares. Needham & Company LLC lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report 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 on the stock in a report on Friday, August 9th. Craig Hallum lowered their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. KeyCorp lowered their target price on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, TD Cowen lowered their target price on shares of Synaptics from $115.00 to $90.00 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 given a buy rating to the company. According to MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

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.