Bank of America Corp DE Sells 64,527 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Bank of America Corp DE lowered its stake in Synaptics Incorporated (NASDAQ:SYNA) by 39.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,946 shares of the software maker’s stock after selling 64,527 shares during the period. Bank of America Corp DE owned approximately 0.25% of Synaptics worth $7,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Synaptics by 169.2% during the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker’s stock valued at $16,388,000 after buying an additional 134,945 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Synaptics by 1.0% during the 4th quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker’s stock valued at $380,059,000 after purchasing an additional 51,498 shares during the last quarter. PDT Partners LLC grew its stake in shares of Synaptics by 254.6% during the fourth quarter. PDT Partners LLC now owns 27,050 shares of the software maker’s stock worth $2,064,000 after acquiring an additional 19,421 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Synaptics by 1,102.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 38,859 shares of the software maker’s stock valued at $2,966,000 after purchasing an additional 35,627 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Synaptics by 11.4% in the 4th quarter. AQR Capital Management LLC now owns 72,756 shares of the software maker’s stock worth $5,519,000 after acquiring an additional 7,418 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYNA. Rosenblatt Securities restated a “buy” rating and set a $105.00 target price on shares of Synaptics in a research report on Thursday, February 27th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC began coverage on shares of Synaptics in a research report on Friday, May 9th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Mizuho reduced their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $93.75.

Synaptics Stock Down 3.0%

Shares of Synaptics stock opened at $58.86 on Monday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $98.00. The business has a 50-day moving average price of $57.26 and a 200 day moving average price of $69.25. The firm has a market cap of $2.27 billion, a P/E ratio of 13.91 and a beta of 1.67.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $266.60 million for the quarter, compared to analysts’ expectations of $265.03 million. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts forecast that Synaptics Incorporated will post 0.96 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.