Raymond James & Associates Has $724,000 Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Raymond James & Associates reduced its position in Synaptics Incorporated (NASDAQ:SYNA) by 22.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,480 shares of the software maker’s stock after selling 2,484 shares during the period. Raymond James & Associates’ holdings in Synaptics were worth $724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYNA. Belpointe Asset Management LLC increased its stake in shares of Synaptics by 112.9% in the 1st quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock valued at $40,000 after buying an additional 193 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Synaptics in the 1st quarter worth $49,000. Lazard Asset Management LLC bought a new position in shares of Synaptics in the 4th quarter worth $76,000. Hanseatic Management Services Inc. bought a new position in shares of Synaptics in the 1st quarter worth $84,000. Finally, State of Wyoming boosted its position in shares of Synaptics by 27.2% in the 4th quarter. State of Wyoming now owns 1,033 shares of the software maker’s stock worth $98,000 after purchasing an additional 221 shares during the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

Synaptics Stock Performance

Shares of Synaptics stock opened at $88.35 on Tuesday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 48.81 and a beta of 1.49. The stock’s 50-day moving average is $87.70 and its 200-day moving average is $86.53. Synaptics Incorporated has a one year low of $67.73 and a one year high of $142.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.89 and a quick ratio of 4.36.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Mizuho restated a “buy” rating and issued a $115.00 price target on shares of Synaptics in a research report on Tuesday, September 19th. Wells Fargo & Company reduced their price target on Synaptics from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. KeyCorp raised their price target on Synaptics from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of Synaptics in a report on Wednesday, September 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Synaptics in a report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $113.64.

Insider Activity

In other news, insider John Mcfarland sold 5,469 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $87.98, for a total value of $481,162.62. Following the sale, the insider now directly owns 16,290 shares in the company, valued at $1,433,194.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Saleel Awsare sold 5,000 shares of Synaptics stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $88.21, for a total value of $441,050.00. Following the sale, the insider now owns 43,084 shares of the company’s stock, valued at $3,800,439.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Mcfarland sold 5,469 shares of Synaptics stock in a transaction dated Monday, August 21st. The shares were 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 directly owns 16,290 shares in the company, valued at approximately $1,433,194.20. The disclosure for this sale can be found here. Insiders have sold a total of 18,138 shares of company stock worth $1,621,319 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Synaptics 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.