Magnetar Financial LLC Takes $217,000 Position in Synaptics Incorporated $SYNA

Magnetar Financial LLC bought a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 3,345 shares of the software maker’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYNA. Ameriprise Financial Inc. boosted its holdings in Synaptics by 22.5% during the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock valued at $388,587,000 after purchasing an additional 1,118,559 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of Synaptics during the 2nd quarter worth approximately $6,991,000. Nuveen LLC bought a new position in shares of Synaptics during the 1st quarter worth approximately $6,596,000. AQR Capital Management LLC boosted its stake in Synaptics by 112.9% in the 1st quarter. AQR Capital Management LLC now owns 154,918 shares of the software maker’s stock valued at $9,684,000 after buying an additional 82,162 shares in the last quarter. Finally, Trigran Investments Inc. grew its position in Synaptics by 5.5% in the first quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker’s stock valued at $72,050,000 after acquiring an additional 58,511 shares during the period. Institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

Shares of SYNA stock opened at $67.74 on Thursday. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $89.81. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $68.17 and its 200-day moving average is $66.66. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -55.98, a PEG ratio of 3.03 and a beta of 1.63.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 6th. The software maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The business had revenue of $292.50 million during the quarter, compared to analyst estimates of $289.93 million. During the same quarter last year, the business posted $0.81 earnings per share. Synaptics’s revenue for the quarter was up 13.5% compared to the same quarter last year. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. Sell-side analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics declared that its board has initiated a stock repurchase plan on Thursday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYNA. Zacks Research raised Synaptics from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synaptics in a report on Thursday, September 11th. They set a “buy” rating and a $85.00 price target for the company. Barclays initiated coverage on shares of Synaptics in a research note on Monday, August 18th. They set an “overweight” rating and a $78.00 price objective on the stock. TD Cowen lifted their target price on shares of Synaptics from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Synaptics in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.29.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.