West Coast Financial LLC boosted its position in Synaptics, Incorporated (NASDAQ:SYNA) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,877 shares of the software maker’s stock after buying an additional 2,573 shares during the period. Synaptics, makes up 1.5% of West Coast Financial LLC’s portfolio, making the stock its 25th largest position. West Coast Financial LLC owned about 0.26% of Synaptics, worth $4,648,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. TrimTabs Asset Management LLC increased its stake in shares of Synaptics, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Synaptics, during the first quarter worth $104,000. Edge Wealth Management LLC increased its stake in shares of Synaptics, by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares during the period. LS Investment Advisors LLC increased its stake in shares of Synaptics, by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock worth $143,000 after buying an additional 421 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Synaptics, during the first quarter worth $148,000. 93.01% of the stock is owned by institutional investors.
Synaptics, Incorporated (SYNA) opened at 45.32 on Friday. The firm has a 50-day moving average of $54.09 and a 200 day moving average of $54.00. Synaptics, Incorporated has a 12 month low of $44.92 and a 12 month high of $69.45. The firm has a market capitalization of $1.55 billion, a PE ratio of 68.25 and a beta of 1.13.
Synaptics, (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The firm had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.49 million. Synaptics, had a net margin of 1.01% and a return on equity of 2.51%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Equities research analysts forecast that Synaptics, Incorporated will post $5.09 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/06/west-coast-financial-llc-has-4-65-million-stake-in-synaptics-incorporated-syna-updated-updated.html.
A number of brokerages have recently weighed in on SYNA. BidaskClub downgraded shares of Synaptics, from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Synaptics, in a research note on Friday, July 28th. BMO Capital Markets dropped their price objective on shares of Synaptics, from $56.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday. Needham & Company LLC reissued a “buy” rating on shares of Synaptics, in a research note on Friday. Finally, Craig Hallum raised shares of Synaptics, from a “hold” rating to a “buy” rating and dropped their price objective for the company from $62.00 to $55.00 in a research note on Friday. Seven analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Synaptics, presently has a consensus rating of “Hold” and a consensus price target of $58.10.
In related news, CEO Rick Bergman sold 20,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $55.03, for a total transaction of $1,100,600.00. Following the completion of the sale, the chief executive officer now directly owns 115,488 shares in the company, valued at approximately $6,355,304.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Wajid Ali sold 555 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.75, for a total transaction of $31,496.25. Following the sale, the vice president now owns 15,900 shares of the company’s stock, valued at $902,325. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,930 shares of company stock valued at $2,212,446. Company insiders own 3.60% of the company’s stock.
Synaptics, Company Profile
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.
Receive News & Ratings for Synaptics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
