Synaptics Incorporated (NASDAQ:SYNA) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 48.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,223 shares of the software maker’s stock after acquiring an additional 16,825 shares during the quarter. Texas Permanent School Fund Corp owned 0.13% of Synaptics worth $4,518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SYNA. Truist Financial Corp acquired a new stake in Synaptics in the fourth quarter valued at $212,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Synaptics in the fourth quarter valued at $426,000. Panagora Asset Management Inc. lifted its holdings in Synaptics by 193.2% in the fourth quarter. Panagora Asset Management Inc. now owns 50,287 shares of the software maker’s stock valued at $5,737,000 after acquiring an additional 33,134 shares during the period. Great Lakes Advisors LLC lifted its holdings in Synaptics by 273.2% in the fourth quarter. Great Lakes Advisors LLC now owns 28,392 shares of the software maker’s stock valued at $3,239,000 after acquiring an additional 20,784 shares during the period. Finally, Norges Bank acquired a new stake in Synaptics in the fourth quarter valued at $40,261,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Trading Up 4.7 %

Synaptics stock opened at $74.57 on Friday. The stock has a market cap of $2.95 billion, a PE ratio of -27.52 and a beta of 1.47. The stock has a 50-day moving average price of $80.91 and a 200 day moving average price of $88.98. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $247.40 million during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Equities research analysts predict that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SYNA has been the subject of several research reports. KeyCorp cut their price target on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Needham & Company LLC cut their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note 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 research note on Friday, August 9th. 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 research note on Friday, August 9th. Finally, TD Cowen cut their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and a consensus price target of $105.44.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated 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 sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 3,394 shares of company stock worth $275,691 in the last 90 days. 1.20% of the stock is owned by company 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.