Insider Selling: Synaptics Incorporated (NASDAQ:SYNA) Insider Sells 257 Shares of Stock

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 257 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $86.15, for a total transaction of $22,140.55. Following the completion of the sale, the insider now owns 30,578 shares in the company, valued at $2,634,294.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Vikram Gupta also recently made the following trade(s):

• On Thursday, June 20th, Vikram Gupta sold 259 shares of Synaptics stock. The stock was sold at an average price of $90.00, for a total transaction of $23,310.00.
• On Thursday, June 13th, Vikram Gupta sold 258 shares of Synaptics stock. The stock was sold at an average price of $95.10, for a total transaction of $24,535.80.

Synaptics Trading Up 1.5 %

Shares of Synaptics stock opened at $88.20 on Friday. The firm has a market capitalization of $3.48 billion, a PE ratio of -32.55 and a beta of 1.48. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $90.59 and its 200 day moving average is $99.61. Synaptics Incorporated has a 1 year low of $73.38 and a 1 year high of $121.37.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The company had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s revenue was down 27.3% on a year-over-year basis. Equities research analysts forecast that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYNA. TD Cowen lowered their price objective on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 10th. KeyCorp cut their price target on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Needham & Company LLC cut their price target on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Wells Fargo & Company cut their price target on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.67.

Institutional Investors Weigh In On Synaptics

A number of institutional investors have recently added to or reduced their stakes in SYNA. PNC Financial Services Group Inc. grew its holdings in Synaptics by 37.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,336 shares of the software maker’s stock worth $119,000 after acquiring an additional 364 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Synaptics by 290.7% in the 3rd quarter. Hsbc Holdings PLC now owns 12,038 shares of the software maker’s stock worth $1,069,000 after purchasing an additional 8,957 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Synaptics in the 3rd quarter worth approximately $213,000. Ameriprise Financial Inc. lifted its position in shares of Synaptics by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after purchasing an additional 116,276 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in shares of Synaptics by 2.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 67,586 shares of the software maker’s stock worth $6,045,000 after purchasing an additional 1,899 shares during the period. 99.43% of the stock is owned by institutional investors.

About Synaptics

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.