TimesSquare Capital Management LLC Sells 26,885 Shares of Synaptics Incorporated (NASDAQ:SYNA)

TimesSquare Capital Management LLC lessened its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 439,820 shares of the software maker’s stock after selling 26,885 shares during the period. TimesSquare Capital Management LLC owned about 1.12% of Synaptics worth $50,175,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC increased its stake in shares of Synaptics by 711.8% in the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Synaptics during the 3rd quarter valued at approximately $31,000. Fifth Third Bancorp grew its stake in Synaptics by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after acquiring an additional 208 shares during the period. Headinvest LLC purchased a new stake in Synaptics in the 3rd quarter worth $40,000. Finally, Covestor Ltd raised its position in Synaptics by 180.3% during the third quarter. Covestor Ltd now owns 639 shares of the software maker’s stock worth $57,000 after acquiring an additional 411 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Trading Up 0.7 %

SYNA stock traded up $0.66 during trading on Thursday, reaching $91.66. 668,239 shares of the stock were exchanged, compared to its average volume of 288,071. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -46.06 and a beta of 1.59. Synaptics Incorporated has a 1 year low of $72.64 and a 1 year high of $121.37. The company has a current ratio of 4.53, a quick ratio of 4.04 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $94.60 and a 200-day moving average price of $100.81.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $235.17 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The business’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, research analysts predict that Synaptics Incorporated will post -0.48 earnings per share for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 3,616 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total transaction of $382,392.00. Following the completion of the transaction, the insider now directly owns 31,847 shares in the company, valued at approximately $3,367,820.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SYNA shares. Craig Hallum cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 9th. Needham & Company LLC raised their target price on Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 9th. KeyCorp lifted their price target on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Susquehanna raised their price objective on Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a report on Friday, February 9th. Finally, Mizuho reduced their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $122.67.

Synaptics Company Profile

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.