Rhumbline Advisers Sells 2,393 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Rhumbline Advisers cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,511 shares of the software maker’s stock after selling 2,393 shares during the quarter. Rhumbline Advisers owned approximately 0.33% of Synaptics worth $14,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd lifted its stake in shares of Synaptics by 67.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 7,533 shares of the software maker’s stock valued at $837,000 after buying an additional 3,026 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Synaptics by 7.1% in the first quarter. Citigroup Inc. now owns 66,243 shares of the software maker’s stock valued at $7,363,000 after buying an additional 4,406 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Synaptics by 24.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,844 shares of the software maker’s stock valued at $2,393,000 after buying an additional 5,042 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Synaptics by 6.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,508 shares of the software maker’s stock worth $239,000 after purchasing an additional 153 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Synaptics by 6.5% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,429 shares of the software maker’s stock valued at $381,000 after acquiring an additional 209 shares in the last quarter. 91.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYNA. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Synaptics in a research note on Friday, August 4th. Susquehanna lowered their price objective on Synaptics from $115.00 to $100.00 and set a “positive” rating on the stock in a research note on Friday, August 4th. StockNews.com started coverage on Synaptics in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their price objective on Synaptics from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. Finally, TD Cowen boosted their price objective on Synaptics from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $112.08.

Insider Buying and Selling

In related news, insider John Mcfarland sold 5,469 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $87.98, for a total value of $481,162.62. Following the completion of the sale, the insider now owns 16,290 shares in the company, valued at approximately $1,433,194.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John Mcfarland sold 5,469 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $87.98, for a total value of $481,162.62. Following the completion of the sale, the insider now owns 16,290 shares in the company, valued at approximately $1,433,194.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Saleel Awsare sold 7,669 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $91.16, for a total value of $699,106.04. Following the completion of the sale, the insider now owns 26,362 shares of the company’s stock, valued at approximately $2,403,159.92. The disclosure for this sale can be found here. Insiders sold 14,084 shares of company stock worth $1,267,017 in the last quarter. 0.97% of the stock is owned by insiders.

Synaptics Stock Up 1.7 %

Shares of NASDAQ SYNA opened at $89.04 on Friday. Synaptics Incorporated has a 12 month low of $67.73 and a 12 month high of $142.14. The company has a current ratio of 4.89, a quick ratio of 4.36 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 49.19 and a beta of 1.53. The business has a 50-day moving average of $88.51 and a 200-day moving average of $93.92.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.22. Synaptics had a return on equity of 17.11% and a net margin of 5.43%. The company had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.34 million. During the same quarter in the previous year, the firm earned $3.21 earnings per share. Synaptics’s revenue was down 52.3% on a year-over-year basis. Sell-side analysts expect that Synaptics Incorporated will post 0.55 earnings per share for the current fiscal year.

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.