Vanguard Group Inc. Raises Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Vanguard Group Inc. raised its position in Synaptics Incorporated (NASDAQ:SYNA) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,907,880 shares of the software maker’s stock after purchasing an additional 93,155 shares during the quarter. Vanguard Group Inc. owned about 12.25% of Synaptics worth $374,569,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bridge City Capital LLC lifted its holdings in Synaptics by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after acquiring an additional 201 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Synaptics in the 4th quarter valued at $603,000. Sei Investments Co. increased its position in shares of Synaptics by 127.2% during the 4th quarter. Sei Investments Co. now owns 73,362 shares of the software maker’s stock worth $5,599,000 after purchasing an additional 41,069 shares during the last quarter. Quantbot Technologies LP raised its holdings in Synaptics by 948.7% in the 4th quarter. Quantbot Technologies LP now owns 12,511 shares of the software maker’s stock valued at $955,000 after buying an additional 11,318 shares during the period. Finally, Xponance Inc. raised its holdings in Synaptics by 7.2% in the 4th quarter. Xponance Inc. now owns 5,703 shares of the software maker’s stock valued at $435,000 after buying an additional 382 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Insider Transactions at Synaptics

In related news, insider Ken Rizvi bought 3,600 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Synaptics Price Performance

SYNA stock opened at $63.67 on Thursday. Synaptics Incorporated has a 1 year low of $60.75 and a 1 year high of $98.00. The firm has a market capitalization of $2.50 billion, a P/E ratio of 15.05 and a beta of 1.60. 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 business’s 50-day moving average is $70.02 and its two-hundred day moving average is $74.27.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYNA. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a report on Tuesday, February 4th. Mizuho decreased their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Finally, Susquehanna increased their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

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.