Handelsbanken Fonder AB Grows Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Handelsbanken Fonder AB grew its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,237 shares of the software maker’s stock after buying an additional 1,300 shares during the period. Handelsbanken Fonder AB’s holdings in Synaptics were worth $826,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Synaptics by 1.6% during the third quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock valued at $419,691,000 after purchasing an additional 72,044 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Synaptics by 3.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock valued at $118,885,000 after buying an additional 39,352 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Synaptics by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after buying an additional 116,276 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Synaptics by 10.1% in the third quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after buying an additional 9,141 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Synaptics in the third quarter worth approximately $2,271,000. 99.43% of the stock is owned by institutional investors.

Synaptics Stock Performance

Shares of NASDAQ:SYNA opened at $89.68 on Tuesday. Synaptics Incorporated has a 1 year low of $67.73 and a 1 year high of $121.37. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. The stock’s 50-day moving average is $96.46 and its 200 day moving average is $101.07.

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

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 3,616 shares of Synaptics 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 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

SYNA has been the topic of several research reports. KeyCorp lifted their price target on shares of Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Mizuho decreased their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Craig Hallum lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Friday, February 9th. StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Finally, Susquehanna raised their price target on Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.40.

Synaptics Company 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.