Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,841 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 19.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,141 shares of the software maker’s stock after purchasing an additional 1,841 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Synaptics were worth $710,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Willner & Heller LLC lifted its stake in Synaptics by 17.0% in the first quarter. Willner & Heller LLC now owns 4,850 shares of the software maker’s stock valued at $309,000 after buying an additional 705 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in Synaptics in the first quarter valued at approximately $1,403,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics in the first quarter valued at approximately $25,000. Segall Bryant & Hamill LLC bought a new position in Synaptics in the first quarter valued at approximately $31,801,000. Finally, Victory Capital Management Inc. lifted its stake in Synaptics by 11.8% in the first quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker’s stock valued at $41,146,000 after buying an additional 67,975 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Performance

Shares of SYNA stock opened at $60.10 on Thursday. The company’s fifty day simple moving average is $64.85 and its 200-day simple moving average is $64.34. The company has a quick ratio of 2.34, a current ratio of 2.88 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.32 billion, a PE ratio of 14.55 and a beta of 1.61. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $89.81.

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

Analyst Ratings Changes

Separately, Needham & Company LLC began coverage on shares of Synaptics in a research note on Friday, May 9th. They issued a “buy” rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $93.75.

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.