Synaptics Incorporated (SYNA) Stake Boosted by Prudential Financial Inc.
Prudential Financial Inc. grew its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 298.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 718,646 shares of the software maker’s stock after purchasing an additional 538,396 shares during the period. Prudential Financial Inc. owned approximately 2.13% of Synaptics worth $28,157,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Highlander Capital Management LLC purchased a new stake in shares of Synaptics in the 2nd quarter valued at $104,000. Victory Capital Management Inc. purchased a new stake in shares of Synaptics in the 3rd quarter valued at $120,000. Riverhead Capital Management LLC raised its holdings in shares of Synaptics by 95.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after buying an additional 1,330 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Synaptics by 17.9% in the 2nd 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 during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Synaptics by 51.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after buying an additional 948 shares during the period. 97.74% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Wajid Ali sold 2,918 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total value of $121,826.50. Following the completion of the sale, the chief financial officer now directly owns 27,281 shares of the company’s stock, valued at approximately $1,138,981.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by corporate insiders.
SYNA has been the topic of several research analyst reports. BidaskClub downgraded Synaptics from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. reiterated an “underperform” rating and issued a $35.00 price objective on shares of Synaptics in a report on Thursday, September 14th. Rosenblatt Securities downgraded Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a report on Friday, November 3rd. BMO Capital Markets cut their price target on Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $68.00 price target on shares of Synaptics in a report on Friday, July 28th. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Synaptics has an average rating of “Hold” and an average price target of $48.03.
Synaptics Incorporated (NASDAQ SYNA) opened at $37.85 on Thursday. The stock has a market capitalization of $1,278.22, a PE ratio of 11.49, a PEG ratio of 0.90 and a beta of 1.17. Synaptics Incorporated has a 1 year low of $33.73 and a 1 year high of $64.54. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.46. The business had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $398.68 million. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. equities research analysts predict that Synaptics Incorporated will post 2.8 earnings per share for the current year.
Synaptics Company Profile
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.
Want to see what other hedge funds are holding SYNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synaptics Incorporated (NASDAQ:SYNA).
Receive News & Ratings for Synaptics Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.