State Board of Administration of Florida Retirement System reduced its stake in Synaptics, Incorporated (NASDAQ:SYNA) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,654 shares of the software maker’s stock after selling 2,320 shares during the period. State Board of Administration of Florida Retirement System owned about 0.05% of Synaptics, worth $999,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of SYNA. Macquarie Group Ltd. increased its position in shares of Synaptics, by 27.4% in the second quarter. Macquarie Group Ltd. now owns 328,122 shares of the software maker’s stock valued at $17,637,000 after buying an additional 70,656 shares during the period. Foundry Partners LLC boosted its position in shares of Synaptics, by 28.0% in the third quarter. Foundry Partners LLC now owns 7,195 shares of the software maker’s stock valued at $421,000 after buying an additional 1,575 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Synaptics, by 3.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 12,719 shares of the software maker’s stock valued at $745,000 after buying an additional 454 shares in the last quarter. Smith Graham & Co. Investment Advisors LP boosted its position in shares of Synaptics, by 7.6% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 140,975 shares of the software maker’s stock valued at $8,258,000 after buying an additional 9,920 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Synaptics, by 34.2% in the third quarter. Bank of Montreal Can now owns 20,412 shares of the software maker’s stock valued at $1,195,000 after buying an additional 5,197 shares in the last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.
Synaptics, Incorporated (NASDAQ:SYNA) traded down 0.55% during trading on Friday, reaching $50.82. 492,285 shares of the company traded hands. Synaptics, Incorporated has a 52 week low of $47.00 and a 52 week high of $88.65. The company has a market capitalization of $1.80 billion, a P/E ratio of 46.80 and a beta of 1.24. The firm has a 50-day moving average price of $50.05 and a 200-day moving average price of $55.26.
Synaptics, (NASDAQ:SYNA) last issued its earnings results on Thursday, January 26th. The software maker reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.20. Synaptics, had a return on equity of 14.02% and a net margin of 2.54%. The business earned $461.30 million during the quarter, compared to analysts’ expectations of $450.89 million. During the same quarter in the previous year, the business earned $1.60 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Synaptics, Incorporated will post $4.89 earnings per share for the current fiscal year.
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Several brokerages recently issued reports on SYNA. Zacks Investment Research cut shares of Synaptics, from a “buy” rating to a “hold” rating in a research report on Thursday, March 30th. Needham & Company LLC upgraded shares of Synaptics, from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, April 7th. Cowen and Company restated an “outperform” rating and issued a $75.00 price objective on shares of Synaptics, in a report on Wednesday, March 22nd. Lake Street Capital upped their price objective on shares of Synaptics, from $57.00 to $61.00 and gave the stock a “hold” rating in a report on Friday, January 27th. Finally, Northland Securities upgraded shares of Synaptics, from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Thursday, March 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $63.92.
In other Synaptics, news, VP Wajid Ali sold 477 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $56.96, for a total value of $27,169.92. Following the transaction, the vice president now directly owns 17,627 shares of the company’s stock, valued at approximately $1,004,033.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $56.26, for a total value of $562,600.00. Following the completion of the transaction, the insider now directly owns 105,488 shares in the company, valued at $5,934,754.88. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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