Van ECK Associates Corp Makes New $132,000 Investment in Synaptics Incorporated (NASDAQ:SYNA)

Van ECK Associates Corp purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,848 shares of the software maker’s stock, valued at approximately $132,000.

A number of other institutional investors also recently bought and sold shares of the business. Point72 Asset Management L.P. grew its stake in shares of Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Synaptics by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after purchasing an additional 193,182 shares during the period. Victory Capital Management Inc. grew its stake in shares of Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after purchasing an additional 153,434 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Synaptics during the 1st quarter worth approximately $13,065,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the transaction, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 5,609 shares of company stock worth $448,720. Corporate insiders own 1.30% of the company’s stock.

Synaptics Trading Down 3.2 %

Shares of SYNA stock opened at $74.50 on Thursday. The stock’s fifty day moving average is $73.82 and its two-hundred day moving average is $82.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The firm has a market capitalization of $2.98 billion, a P/E ratio of 18.86 and a beta of 1.47. Synaptics Incorporated has a fifty-two week low of $67.83 and a fifty-two week high of $121.37.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYNA. TD Cowen raised their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC dropped their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Susquehanna dropped their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Synaptics presently has an average rating of “Moderate Buy” and a consensus price target of $97.33.

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.