Texas Permanent School Fund cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 25,046 shares of the software maker’s stock after selling 554 shares during the period. Texas Permanent School Fund’s holdings in Synaptics were worth $1,295,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. TrimTabs Asset Management LLC boosted its position in Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Synaptics during the first quarter valued at about $104,000. LS Investment Advisors LLC boosted its position in Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Synaptics during the first quarter valued at about $148,000. Finally, Envestnet Asset Management Inc. boosted its position in Synaptics by 47.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,295 shares of the software maker’s stock valued at $165,000 after buying an additional 1,063 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.
Synaptics Incorporated (SYNA) opened at 40.50 on Friday. Synaptics Incorporated has a one year low of $39.89 and a one year high of $69.45. The firm’s 50-day moving average price is $49.99 and its 200-day moving average price is $53.02. The company has a market cap of $1.40 billion, a PE ratio of 29.56 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. During the same quarter in the prior year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Synaptics Incorporated will post $4.60 earnings per share for the current fiscal year.
Several research firms recently issued reports on SYNA. Pacific Crest reiterated an “equal weight” rating on shares of Synaptics in a report on Tuesday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target (down previously from $65.00) on shares of Synaptics in a report on Friday, August 4th. BidaskClub cut Synaptics from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Vetr upgraded Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price target on the stock in a report on Wednesday, May 17th. Finally, Craig Hallum upgraded Synaptics from a “hold” rating to a “buy” rating and decreased their price target for the company from $62.00 to $55.00 in a report on Friday, August 4th. Seven equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.43.
In related news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the sale, the director now owns 16,166 shares in the company, valued at approximately $904,002.72. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate 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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