Strs Ohio Trims Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Strs Ohio trimmed its stake in Synaptics Incorporated (NASDAQ:SYNA) by 18.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,500 shares of the software maker’s stock after selling 800 shares during the period. Strs Ohio’s holdings in Synaptics were worth $399,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Synaptics by 711.8% in the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock valued at $25,000 after acquiring an additional 242 shares during the period. Venturi Wealth Management LLC purchased a new stake in Synaptics during the 3rd quarter worth approximately $31,000. Fifth Third Bancorp increased its stake in Synaptics by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock worth $39,000 after buying an additional 208 shares during the period. Headinvest LLC purchased a new stake in shares of Synaptics in the 3rd quarter valued at approximately $40,000. Finally, Covestor Ltd increased its position in shares of Synaptics by 180.3% in the 3rd quarter. Covestor Ltd now owns 639 shares of the software maker’s stock valued at $57,000 after purchasing an additional 411 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

SYNA has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Rosenblatt Securities increased their price objective on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Susquehanna increased their price objective on shares of Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Needham & Company LLC increased their price objective on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, StockNews.com upgraded shares of Synaptics from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.40.

Synaptics Stock Performance

NASDAQ:SYNA opened at $89.26 on Monday. The company has a current ratio of 4.53, a quick ratio of 4.04 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $96.80 and a two-hundred day moving average price of $101.08. Synaptics Incorporated has a twelve month low of $67.73 and a twelve month high of $121.37. The company has a market capitalization of $3.51 billion, a P/E ratio of -44.85 and a beta of 1.56.

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

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.