85,300 Shares in Synaptics Incorporated $SYNA Acquired by Glazer Capital LLC

Glazer Capital LLC bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 85,300 shares of the software maker’s stock, valued at approximately $10,597,000.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Synaptics by 0.5% during the second quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after buying an additional 9,335 shares during the period. Orbis Allan Gray Ltd increased its position in shares of Synaptics by 9.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock valued at $113,712,000 after acquiring an additional 137,926 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Synaptics in the 2nd quarter valued at $153,998,000. The Manufacturers Life Insurance Company purchased a new position in Synaptics in the 2nd quarter worth $133,656,000. Finally, Geode Capital Management LLC raised its stake in Synaptics by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock worth $74,066,000 after acquiring an additional 17,088 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Craig Hallum set a $105.00 price objective on Synaptics in a report on Friday, August 7th. Mizuho lifted their target price on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft downgraded Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Monday, June 29th. Finally, Wells Fargo & Company dropped their target price on Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.91.

Insider Activity

In other news, insider Esther Song sold 437 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the sale, the insider owned 14,683 shares in the company, valued at $1,522,333.44. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the sale, the insider directly owned 103,468 shares in the company, valued at approximately $10,724,458.20. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,867 shares of company stock valued at $1,624,996 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Synaptics Trading Up 2.0%

NASDAQ SYNA opened at $97.59 on Friday. The company has a market capitalization of $3.82 billion, a PE ratio of -7.71 and a beta of 1.99. The company has a fifty day moving average of $114.05 and a 200 day moving average of $103.74. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90.

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

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.