Teacher Retirement System of Texas Invests $373,000 in Synaptics Incorporated (NASDAQ:SYNA)

Teacher Retirement System of Texas acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,855 shares of the software maker’s stock, valued at approximately $373,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Synaptics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after buying an additional 93,155 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in Synaptics during the 1st quarter worth $216,000. Bank of Montreal Can grew its holdings in Synaptics by 19.3% during the 4th quarter. Bank of Montreal Can now owns 5,161 shares of the software maker’s stock worth $394,000 after acquiring an additional 834 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Synaptics in the 1st quarter valued at about $320,000. Finally, Raymond James Financial Inc. bought a new stake in Synaptics in the 4th quarter valued at about $371,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on SYNA shares. Mizuho dropped their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Needham & Company LLC initiated coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a “buy” rating and a $80.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $93.75.

Synaptics Stock Performance

NASDAQ:SYNA opened at $67.00 on Friday. The stock’s 50-day moving average is $64.21 and its 200-day moving average is $65.72. Synaptics Incorporated has a 1-year low of $41.80 and a 1-year high of $96.29. The stock has a market cap of $2.58 billion, a P/E ratio of 16.22 and a beta of 1.70. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The company had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current year.

Synaptics 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.