MQS Management LLC Cuts Position in Synaptics Incorporated (NASDAQ:SYNA)

MQS Management LLC reduced its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,803 shares of the software maker’s stock after selling 245 shares during the quarter. MQS Management LLC’s holdings in Synaptics were worth $247,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Synaptics during the 1st quarter worth $586,000. UBS Group AG grew its stake in shares of Synaptics by 26.8% in the fourth quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock valued at $12,031,000 after buying an additional 22,308 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after buying an additional 6,276 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after acquiring an additional 100,150 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

SYNA has been the subject of several analyst reports. KeyCorp decreased their target price on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. TD Cowen reduced their price objective on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC dropped their target price on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.44.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,135 shares of company stock worth $252,381 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Synaptics Stock Down 4.0 %

Shares of NASDAQ:SYNA opened at $73.78 on Friday. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The company’s fifty day moving average is $79.30 and its two-hundred day moving average is $87.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -27.23 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping 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 analyst estimates of $245.17 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Synaptics’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that Synaptics Incorporated will post 0.72 EPS for the current year.

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.