Cwm LLC Boosts Stake in Synaptics Incorporated (NASDAQ:SYNA)

Cwm LLC boosted its stake in Synaptics Incorporated (NASDAQ:SYNA) by 58.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,151 shares of the software maker’s stock after buying an additional 423 shares during the quarter. Cwm LLC’s holdings in Synaptics were worth $89,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYNA. State of Michigan Retirement System lifted its stake in Synaptics by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 9,633 shares of the software maker’s stock valued at $940,000 after buying an additional 200 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Synaptics by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 149,281 shares of the software maker’s stock valued at $14,564,000 after acquiring an additional 2,888 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Synaptics by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 61,855 shares of the software maker’s stock valued at $6,035,000 after acquiring an additional 259 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in Synaptics by 1.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,398 shares of the software maker’s stock valued at $3,356,000 after acquiring an additional 647 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Synaptics in the 1st quarter valued at $586,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum cut their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. TD Cowen dropped their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Susquehanna dropped their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Synaptics Stock Performance

NASDAQ:SYNA opened at $72.14 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The firm has a 50-day moving average of $75.09 and a two-hundred day moving average of $83.38. The stock has a market cap of $2.85 billion, a P/E ratio of -26.62 and a beta of 1.46. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 EPS 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 business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts expect that Synaptics Incorporated will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 5,609 shares of company stock worth $448,720 over the last ninety days. Company insiders own 1.20% of the company’s stock.

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.