KLP Kapitalforvaltning AS Purchases Shares of 7,900 Synaptics Incorporated (NASDAQ:SYNA)

KLP Kapitalforvaltning AS purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,900 shares of the software maker’s stock, valued at approximately $603,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after purchasing an additional 53,252 shares during the period. BNP Paribas Financial Markets increased its position in Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after purchasing an additional 42,101 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Synaptics by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock valued at $35,991,000 after buying an additional 23,702 shares during the period. Principal Financial Group Inc. lifted its position in Synaptics by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after buying an additional 333 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in Synaptics by 51.2% during the third quarter. Holocene Advisors LP now owns 47,837 shares of the software maker’s stock worth $3,711,000 after buying an additional 16,193 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Price Performance

Shares of Synaptics stock opened at $63.67 on Thursday. The firm has a fifty day moving average price of $70.02 and a two-hundred day moving average price of $74.27. Synaptics Incorporated has a fifty-two week low of $60.75 and a fifty-two week high of $98.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The company has a market cap of $2.50 billion, a PE ratio of 15.05 and a beta of 1.60.

Insider Buying and Selling

In related news, insider Ken Rizvi bought 3,600 shares of the company’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the completion of the purchase, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SYNA shares. Mizuho dropped their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Company 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.