Alps Advisors Inc. lowered its position in Synaptics Inc. (NASDAQ:SYNA) by 6.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,780 shares of the company’s stock after selling 352 shares during the period. Alps Advisors Inc.’s holdings in Synaptics were worth $257,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in SYNA. Retirement Systems of Alabama boosted its stake in shares of Synaptics by 0.5% in the second quarter. Retirement Systems of Alabama now owns 47,526 shares of the company’s stock worth $2,555,000 after buying an additional 245 shares during the last quarter. Jensen Investment Management Inc. acquired a new stake in Synaptics during the second quarter valued at approximately $342,000. Bank of Montreal Can acquired a new stake in Synaptics during the second quarter valued at approximately $817,000. Old Mutual Global Investors UK Ltd. boosted its stake in Synaptics by 513.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 18,337 shares of the company’s stock valued at $985,000 after buying an additional 15,348 shares in the last quarter. Finally, CWM LLC boosted its stake in Synaptics by 31.4% in the second quarter. CWM LLC now owns 199,994 shares of the company’s stock valued at $10,750,000 after buying an additional 47,751 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.
Shares of Synaptics Inc. (NASDAQ:SYNA) traded up 1.27% during mid-day trading on Friday, hitting $66.38. The stock had a trading volume of 510,918 shares. The stock’s 50-day moving average price is $59.68 and its 200-day moving average price is $62.36. Synaptics Inc. has a 12-month low of $47.09 and a 12-month high of $94.48. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 34.75 and a beta of 1.76.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.46 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.46. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. The company earned $323.90 million during the quarter, compared to the consensus estimate of $318.48 million. During the same period in the prior year, the business posted $1.57 EPS. The company’s quarterly revenue was down 32.4% on a year-over-year basis. On average, equities analysts anticipate that Synaptics Inc. will post $5.18 EPS for the current fiscal year.
Several analysts recently commented on SYNA shares. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price (down from $88.00) on shares of Synaptics in a research report on Friday, July 29th. Craig Hallum lowered their target price on Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. JPMorgan Chase & Co. restated a “buy” rating and issued a $71.00 target price on shares of Synaptics in a research report on Wednesday, July 20th. Cowen and Company restated a “buy” rating on shares of Synaptics in a research report on Friday, June 17th. Finally, Zacks Investment Research upgraded Synaptics from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Thursday, August 4th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $76.83.
In other news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $58.29, for a total value of $582,900.00. Following the sale, the insider now directly owns 82,491 shares of the company’s stock, valued at approximately $4,808,400.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John Mcfarland sold 2,778 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total transaction of $166,680.00. Following the completion of the sale, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.