Louisiana State Employees Retirement System Decreases Stake in Synaptics Incorporated (NASDAQ:SYNA)

Louisiana State Employees Retirement System lessened its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the software maker’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Synaptics were worth $846,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SYNA. CWC Advisors LLC. bought a new position in shares of Synaptics in the 3rd quarter valued at about $297,000. Cardinal Capital Management increased its stake in Synaptics by 20.1% during the third quarter. Cardinal Capital Management now owns 26,705 shares of the software maker’s stock worth $2,072,000 after acquiring an additional 4,465 shares during the last quarter. nVerses Capital LLC raised its position in Synaptics by 75.0% during the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock valued at $217,000 after purchasing an additional 1,200 shares during the period. Creative Planning lifted its stake in shares of Synaptics by 113.4% in the 3rd quarter. Creative Planning now owns 8,942 shares of the software maker’s stock valued at $694,000 after purchasing an additional 4,752 shares during the last quarter. Finally, Willner & Heller LLC boosted its holdings in shares of Synaptics by 87.2% in the 3rd quarter. Willner & Heller LLC now owns 4,270 shares of the software maker’s stock worth $331,000 after purchasing an additional 1,989 shares during the period. Institutional investors own 99.43% of the company’s stock.

Synaptics Stock Down 1.4 %

NASDAQ:SYNA opened at $69.27 on Tuesday. 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 market cap of $2.77 billion, a PE ratio of 22.65 and a beta of 1.47. The company has a 50-day moving average of $74.49 and a 200 day moving average of $82.75. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. Synaptics’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, research analysts anticipate that Synaptics Incorporated will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYNA. Susquehanna lowered their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Synaptics in a research note on Thursday, October 31st. Craig Hallum reduced their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, TD Cowen cut their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,609 shares of company stock worth $448,720 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

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.