Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,628 shares of the software maker’s stock after acquiring an additional 1,356 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of Synaptics worth $6,150,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new position in shares of Synaptics in the 1st quarter valued at $49,000. Signaturefd LLC raised its stake in shares of Synaptics by 355.8% in the 4th quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock valued at $37,000 after acquiring an additional 306 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of Synaptics by 203.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 777 shares of the software maker’s stock valued at $61,000 after acquiring an additional 521 shares during the period. CWM LLC raised its stake in shares of Synaptics by 138.0% in the 4th quarter. CWM LLC now owns 883 shares of the software maker’s stock valued at $84,000 after acquiring an additional 512 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Synaptics in the 3rd quarter valued at $89,000. Hedge funds and other institutional investors own 90.40% of the company’s stock.

Insider Transactions at Synaptics

In other news, insider Saleel Awsare sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $115.28, for a total value of $576,400.00. Following the transaction, the insider now directly owns 33,755 shares in the company, valued at approximately $3,891,276.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

SYNA has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Synaptics from $165.00 to $115.00 in a report on Thursday, May 4th. BMO Capital Markets lowered their price target on shares of Synaptics from $135.00 to $80.00 in a report on Thursday, May 4th. Oppenheimer raised their price target on shares of Synaptics from $185.00 to $195.00 in a report on Monday, April 24th. Mizuho lowered their price target on shares of Synaptics from $155.00 to $130.00 in a report on Thursday, May 4th. Finally, KeyCorp lowered their price target on shares of Synaptics from $140.00 to $100.00 in a report on Thursday, May 4th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.55.

Synaptics Trading Up 1.3 %

Synaptics stock opened at $83.10 on Tuesday. The firm’s 50-day moving average is $94.78 and its 200-day moving average is $103.90. The company has a debt-to-equity ratio of 0.74, a quick ratio of 4.41 and a current ratio of 4.96. Synaptics Incorporated has a 1 year low of $67.73 and a 1 year high of $154.68. The company has a market cap of $3.28 billion, a P/E ratio of 18.72 and a beta of 1.55.

Synaptics announced that its board has approved a share repurchase program on Wednesday, May 3rd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 14.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

About Synaptics

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Synaptics, Inc engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.