DekaBank Deutsche Girozentrale trimmed its position in Synaptics Incorporated (NASDAQ:SYNA) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,742 shares of the software maker’s stock after selling 13,700 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.25% of Synaptics worth $3,531,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in Synaptics by 25.1% in the first quarter. Legal & General Group Plc now owns 22,586 shares of the software maker’s stock valued at $1,118,000 after purchasing an additional 4,526 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Synaptics by 13.2% in the first quarter. Thrivent Financial For Lutherans now owns 6,710 shares of the software maker’s stock valued at $332,000 after purchasing an additional 780 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Synaptics by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 181,292 shares of the software maker’s stock valued at $8,976,000 after purchasing an additional 11,082 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Synaptics in the second quarter valued at approximately $348,000. Finally, Oregon Public Employees Retirement Fund raised its stake in Synaptics by 4.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 12,792 shares of the software maker’s stock valued at $661,000 after purchasing an additional 526 shares in the last quarter. 97.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Wajid Ali sold 2,918 shares of Synaptics stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total value of $121,826.50. Following the completion of the transaction, the chief financial officer now owns 27,281 shares of the company’s stock, valued at approximately $1,138,981.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rick Bergman sold 2,000 shares of Synaptics stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now directly owns 130,307 shares of the company’s stock, valued at approximately $5,212,280. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.46. Synaptics had a net margin of 1.06% and a return on equity of 15.85%. The firm had revenue of $417.40 million for the quarter, compared to analysts’ expectations of $398.68 million. During the same quarter in the previous year, the business posted $1.03 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. analysts predict that Synaptics Incorporated will post 2.8 earnings per share for the current fiscal year.
Several research analysts have commented on SYNA shares. Cowen set a $60.00 price target on shares of Synaptics and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Stifel Nicolaus decreased their price target on shares of Synaptics from $68.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Mizuho downgraded shares of Synaptics from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $42.00 in a research note on Monday, October 9th. Citigroup reissued an “underperform” rating and set a $35.00 price target (down from $45.00) on shares of Synaptics in a research note on Tuesday, August 22nd. Finally, Rosenblatt Securities cut shares of Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.03.
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.
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