Raymond James Financial Inc. Makes New $371,000 Investment in Synaptics Incorporated (NASDAQ:SYNA)

Raymond James Financial Inc. purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,865 shares of the software maker’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SYNA. Verition Fund Management LLC lifted its position in shares of Synaptics by 108.3% in the 3rd quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker’s stock worth $437,000 after purchasing an additional 2,930 shares during the period. Quarry LP bought a new stake in Synaptics during the 3rd quarter valued at $31,000. XTX Topco Ltd purchased a new position in shares of Synaptics in the 3rd quarter valued at $227,000. Barclays PLC raised its position in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after acquiring an additional 53,252 shares in the last quarter. Finally, Profit Investment Management LLC lifted its stake in shares of Synaptics by 8.9% during the 4th quarter. Profit Investment Management LLC now owns 24,716 shares of the software maker’s stock worth $1,886,000 after purchasing an additional 2,029 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Mizuho decreased their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Susquehanna lifted their price target on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Synaptics Stock Performance

Shares of SYNA opened at $52.26 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The stock has a 50-day moving average of $64.96 and a two-hundred day moving average of $72.95. The stock has a market cap of $2.05 billion, a P/E ratio of 12.35 and a beta of 1.60. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00.

Insiders Place Their Bets

In related news, insider Ken Rizvi acquired 3,600 shares of Synaptics stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.30% 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.