Synaptics Incorporated (NASDAQ:SYNA) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Synaptics Incorporated (NASDAQ:SYNA) by 1,255.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 394,383 shares of the software maker’s stock after purchasing an additional 365,282 shares during the period. Victory Capital Management Inc.’s holdings in Synaptics were worth $44,991,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. KeyCorp increased their price target on shares of Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Susquehanna increased their target price 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 boosted their price target 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. Craig Hallum lowered Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday, February 9th. Finally, StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.67.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $90.31 on Monday. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. Synaptics Incorporated has a one year low of $67.73 and a one year high of $121.37. The company has a 50-day simple moving average of $95.23 and a 200-day simple moving average of $100.88.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 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 during the quarter, compared to the consensus estimate of $235.26 million. During the same period in the prior year, the business earned $1.47 EPS. The firm’s revenue was down 32.9% compared to the same quarter last year. As a group, equities research analysts forecast that Synaptics Incorporated will post -0.48 EPS for the current year.

About Synaptics

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.