Spark Investment Management LLC Takes Position in Synaptics Incorporated (NASDAQ:SYNA)
Spark Investment Management LLC acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,500 shares of the software maker’s stock, valued at approximately $956,000.
Several other institutional investors have also made changes to their positions in the company. TrimTabs Asset Management LLC boosted its position in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Synaptics during the first quarter valued at about $104,000. Edge Wealth Management LLC boosted its position in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock valued at $110,000 after buying an additional 2,075 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Synaptics during the first quarter valued at about $148,000. 93.01% of the stock is currently owned by institutional investors.
Synaptics Incorporated (NASDAQ:SYNA) opened at 40.27 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of 29.39 and a beta of 1.13. Synaptics Incorporated has a one year low of $40.01 and a one year high of $69.45. The firm has a 50 day moving average of $52.34 and a 200 day moving average of $53.57.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. Synaptics’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. Equities analysts forecast that Synaptics Incorporated will post $4.71 EPS for the current year.
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Several equities analysts have recently issued reports on the stock. BidaskClub cut shares of Synaptics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets lowered their price objective on shares of Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Synaptics in a research note on Friday, August 4th. Cowen and Company set a $75.00 price objective on shares of Synaptics and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “underperform” rating and issued a $45.00 price objective (down previously from $48.00) on shares of Synaptics in a research note on Monday, July 17th. Seven research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $57.43.
In related news, Director Jeffrey D. Buchanan sold 9,375 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $55.92, for a total transaction of $524,250.00. Following the completion of the sale, the director now directly owns 16,166 shares of the company’s stock, valued at approximately $904,002.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rick Bergman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total value of $556,100.00. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
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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