Fmr LLC Sells 828,750 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Fmr LLC trimmed its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 30.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,874,890 shares of the software maker’s stock after selling 828,750 shares during the quarter. Fmr LLC owned approximately 4.68% of Synaptics worth $145,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYNA. GAMMA Investing LLC lifted its position in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Synaptics in the 2nd quarter valued at about $67,000. Innealta Capital LLC bought a new position in Synaptics in the 2nd quarter worth about $83,000. CWM LLC increased its position in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after acquiring an additional 423 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Synaptics during the second quarter worth approximately $141,000. 99.43% of the stock is owned by institutional investors.

Synaptics Price Performance

Shares of SYNA opened at $80.61 on Wednesday. The company has a 50 day moving average of $74.81 and a two-hundred day moving average of $80.84. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 20.41 and a beta of 1.45.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 2,731 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total transaction of $218,480.00. Following the transaction, the insider now owns 43,245 shares in the company, valued at $3,459,600. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SYNA has been the topic of several research analyst reports. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. cut their target price on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Rosenblatt Securities lowered their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Needham & Company LLC cut their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.