Royal Bank of Canada Boosts Holdings in Synaptics Incorporated $SYNA

Royal Bank of Canada raised its position in Synaptics Incorporated (NASDAQ:SYNA) by 337.0% in the 1st quarter, Holdings Channel reports. The firm owned 24,939 shares of the software maker’s stock after buying an additional 19,232 shares during the quarter. Royal Bank of Canada’s holdings in Synaptics were worth $1,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYNA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Synaptics by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock worth $5,780,000 after buying an additional 4,917 shares in the last quarter. M&T Bank Corp purchased a new position in Synaptics during the second quarter worth about $205,000. First Trust Advisors LP grew its position in Synaptics by 9.8% during the second quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock worth $3,915,000 after buying an additional 5,393 shares in the last quarter. Marshall Wace LLP increased its stake in Synaptics by 472.1% in the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock worth $5,801,000 after acquiring an additional 73,848 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Synaptics by 9.1% in the 2nd quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock worth $1,514,000 after acquiring an additional 1,939 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Trading Down 5.2%

NASDAQ SYNA opened at $104.83 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $119.53 and its two-hundred day simple moving average is $103.20. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -8.29 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Research analysts forecast that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 360 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $114.20, for a total transaction of $41,112.00. Following the transaction, the insider directly owned 81,226 shares in the company, valued at $9,276,009.20. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of Synaptics stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the transaction, the insider directly owned 12,421 shares in the company, valued at $1,753,472.57. This trade represents a 41.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,345 shares of company stock worth $1,453,745 in the last quarter. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYNA. Wells Fargo & Company dropped their price target on Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Monday, June 29th. Susquehanna lowered their target price on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Zacks Research upgraded shares of Synaptics from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Synaptics presently has a consensus rating of “Hold” and an average target price of $123.91.

Synaptics Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.