Franklin Resources Inc. Sells 2,760 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Franklin Resources Inc. trimmed its position in Synaptics Incorporated (NASDAQ:SYNA) by 34.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,167 shares of the software maker’s stock after selling 2,760 shares during the quarter. Franklin Resources Inc.’s holdings in Synaptics were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares during the period. Quarry LP acquired a new position in Synaptics during the third quarter worth $31,000. CWM LLC lifted its holdings in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Synaptics in the 3rd quarter valued at $132,000. Finally, nVerses Capital LLC bought a new stake in shares of Synaptics in the 2nd quarter worth about $141,000. 99.43% of the stock is owned by institutional investors.

Synaptics Price Performance

Synaptics stock opened at $76.32 on Wednesday. The business’s 50-day simple moving average is $76.44 and its 200 day simple moving average is $78.80. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 19.32 and a beta of 1.45. Synaptics Incorporated has a 12-month low of $67.83 and a 12-month high of $115.85.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SYNA shares. Susquehanna cut their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. TD Cowen boosted their target price on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 8th. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Rosenblatt Securities reduced their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Needham & Company LLC decreased their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.33.

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.