Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Synaptics Incorporated (NASDAQ:SYNA) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,237 shares of the software maker’s stock after selling 460 shares during the quarter. State of Alaska Department of Revenue’s holdings in Synaptics were worth $483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYNA. Metropolitan Life Insurance Co NY lifted its holdings in shares of Synaptics by 3.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,443 shares of the software maker’s stock valued at $232,000 after buying an additional 89 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Synaptics by 2.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,511 shares of the software maker’s stock valued at $446,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Synaptics by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock worth $270,000 after purchasing an additional 128 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Synaptics by 12.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,241 shares of the software maker’s stock worth $248,000 after purchasing an additional 135 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Synaptics by 5.8% during the fourth quarter. Diversified Trust Co now owns 3,332 shares of the software maker’s stock valued at $380,000 after purchasing an additional 184 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

Synaptics Price Performance

Shares of SYNA opened at $91.00 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -45.73 and a beta of 1.56. The business’s 50-day moving average is $101.63 and its 200-day moving average is $101.30. Synaptics Incorporated has a fifty-two week low of $67.73 and a fifty-two week high of $121.37.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $237.00 million during the quarter, compared to the consensus estimate of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The company’s revenue was down 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 EPS. Equities research analysts expect that Synaptics Incorporated will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. KeyCorp increased their price target on Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Rosenblatt Securities boosted their price objective on Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Mizuho decreased their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.36.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the transaction, the insider now directly owns 31,847 shares of the company’s stock, valued at approximately $3,367,820.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.