Intech Investment Management LLC Takes $1.92 Million Position in Synaptics Incorporated (NASDAQ:SYNA)

Intech Investment Management LLC purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,806 shares of the software maker’s stock, valued at approximately $1,923,000.

A number of other large investors have also bought and sold shares of SYNA. Norges Bank purchased a new stake in shares of Synaptics during the fourth quarter valued at approximately $40,261,000. Bank of New York Mellon Corp lifted its holdings in Synaptics by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after buying an additional 193,182 shares during the period. Victory Capital Management Inc. boosted its position in Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after acquiring an additional 153,434 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Synaptics during the 1st quarter worth approximately $13,065,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Synaptics by 34.5% in 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. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the completion of the sale, the insider now directly owns 46,797 shares in the company, valued at approximately $3,743,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 3,135 shares of company stock valued at $252,381 over the last ninety days. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

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

Synaptics Trading Down 0.6 %

Shares of NASDAQ SYNA opened at $73.36 on Tuesday. The firm’s 50 day moving average price is $78.92 and its 200-day moving average price is $87.39. Synaptics Incorporated has a 52-week low of $67.83 and a 52-week high of $121.37. 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 company has a market cap of $2.90 billion, a PE ratio of -27.07 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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. On average, equities research analysts expect that Synaptics Incorporated will post 0.72 EPS for the current fiscal 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.