Synaptics Incorporated (NASDAQ:SYNA) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 60.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,660 shares of the software maker’s stock after acquiring an additional 5,511 shares during the period. ProShare Advisors LLC’s holdings in Synaptics were worth $1,293,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYNA. CWM LLC increased its stake in shares of Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Synaptics in the 2nd quarter valued at approximately $67,000. Register Financial Advisors LLC acquired a new position in Synaptics during the 1st quarter worth approximately $76,000. Innealta Capital LLC purchased a new position in shares of Synaptics during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at approximately $141,000. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYNA. TD Cowen cut their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp cut their price target on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum decreased their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Needham & Company LLC dropped their target price on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Synaptics Price Performance

SYNA stock opened at $78.48 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. The stock’s 50 day moving average price is $77.54 and its 200 day moving average price is $86.65. The firm has a market cap of $3.13 billion, a P/E ratio of -28.96 and a beta of 1.47. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 earnings per share. On average, sell-side analysts expect that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

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.