Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in Synaptics Incorporated (NASDAQ:SYNA) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 61,596 shares of the software maker’s stock after selling 255 shares during the quarter. Retirement Systems of Alabama’s holdings in Synaptics were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its stake in shares of Synaptics by 39.3% in the 3rd quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock valued at $100,579,000 after purchasing an additional 317,307 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Synaptics by 49.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock valued at $39,172,000 after buying an additional 144,252 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Synaptics by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock valued at $369,500,000 after buying an additional 116,276 shares during the period. Bank of New York Mellon Corp raised its position in Synaptics by 9.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,124,477 shares of the software maker’s stock worth $100,573,000 after buying an additional 94,015 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Synaptics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock worth $419,691,000 after acquiring an additional 72,044 shares during the period. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Price Performance

Synaptics stock opened at $90.31 on Friday. 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’s 50-day simple moving average is $95.23 and its 200 day simple moving average is $100.85. Synaptics Incorporated has a 52 week low of $67.73 and a 52 week high of $121.37.

Synaptics (NASDAQ:SYNA) last announced its quarterly 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 negative net margin of 7.54% and a positive return on equity of 3.01%. The company had revenue of $237.00 million for the quarter, compared to the consensus estimate of $235.26 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was down 32.9% compared to the same quarter last year. On average, equities analysts predict that Synaptics Incorporated will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Rosenblatt Securities raised 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. Mizuho reduced their price target on Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 9th. TD Cowen upped their price objective on Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Needham & Company LLC raised their target price on Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Susquehanna upped their price target on shares of Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

Insider Buying and Selling at Synaptics

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

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.