American International Group Inc. boosted its stake in Synaptics, Incorporated (NASDAQ:SYNA) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,668 shares of the software maker’s stock after purchasing an additional 3,057 shares during the quarter. American International Group Inc. owned about 0.27% of Synaptics worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in SYNA. TRUE Private Wealth Advisors bought a new position in Synaptics during the third quarter valued at approximately $103,000. Truvestments Capital LLC bought a new position in Synaptics during the third quarter valued at approximately $156,000. PNC Financial Services Group Inc. grew its position in Synaptics by 83.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,443 shares of the software maker’s stock valued at $157,000 after acquiring an additional 1,566 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in Synaptics during the second quarter valued at approximately $252,000. Finally, BB&T Securities LLC bought a new position in Synaptics during the second quarter valued at approximately $309,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on SYNA shares. Needham & Company LLC increased their price target on shares of Synaptics from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, August 10th. BMO Capital Markets raised their target price on shares of Synaptics from $39.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, August 10th. JPMorgan Chase & Co. raised their target price on shares of Synaptics from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Craig Hallum restated a “buy” rating and issued a $56.00 target price (up previously from $51.00) on shares of Synaptics in a report on Friday, August 10th. Finally, Lake Street Capital restated a “hold” rating and issued a $52.00 target price on shares of Synaptics in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.09.
In related news, insider Kevin D. Barber sold 12,865 shares of Synaptics stock in a transaction on Monday, November 12th. The shares were sold at an average price of $34.69, for a total value of $446,286.85. Following the sale, the insider now owns 14,001 shares in the company, valued at $485,694.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.
Shares of Synaptics stock opened at $37.39 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.93 and a debt-to-equity ratio of 0.64. Synaptics, Incorporated has a 52-week low of $33.54 and a 52-week high of $55.25. The company has a market capitalization of $1.36 billion, a PE ratio of 18.88, a PEG ratio of 2.69 and a beta of 0.92.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, November 8th. The software maker reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.10. The firm had revenue of $417.60 million for the quarter, compared to analysts’ expectations of $410.60 million. Synaptics had a negative net margin of 5.75% and a positive return on equity of 12.96%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. As a group, analysts predict that Synaptics, Incorporated will post 2.92 EPS for the current year.
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Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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