Primecap Management Co. CA Takes Position in Synaptics Incorporated $SYNA

Primecap Management Co. CA bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 456,000 shares of the software maker’s stock, valued at approximately $56,649,000. Primecap Management Co. CA owned about 1.17% of Synaptics at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in Synaptics in the 2nd quarter valued at $25,000. CIBC Private Wealth Group LLC grew its position in Synaptics by 119.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Allworth Financial LP acquired a new position in Synaptics in the second quarter valued at $33,000. Leonteq Securities AG acquired a new position in Synaptics in the fourth quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new position in Synaptics in the second quarter valued at $54,000. 99.43% of the stock is owned by institutional investors and hedge funds.

Synaptics Stock Up 0.9%

SYNA stock opened at $95.70 on Thursday. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The stock has a market capitalization of $3.74 billion, a PE ratio of -7.57 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. The company has a fifty day moving average of $114.91 and a 200-day moving average of $103.68.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results 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 business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. As a group, analysts expect that Synaptics Incorporated will post 1.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider Esther Song sold 437 shares of Synaptics stock in a transaction that occurred on 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 directly owned 14,683 shares in the company, valued at $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Synaptics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total value of $443,311.05. Following the completion of the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders have sold 15,867 shares of company stock worth $1,624,996. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Susquehanna reduced their price objective on Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Craig Hallum set a $105.00 price objective on Synaptics in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.