California Public Employees Retirement System Cuts Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

California Public Employees Retirement System decreased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,808 shares of the software maker’s stock after selling 3,399 shares during the period. California Public Employees Retirement System owned about 0.18% of Synaptics worth $8,078,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SYNA. Diversified Trust Co boosted its position in Synaptics by 5.8% in the fourth quarter. Diversified Trust Co now owns 3,332 shares of the software maker’s stock worth $380,000 after purchasing an additional 184 shares during the last quarter. Arizona State Retirement System boosted its position in Synaptics by 1.7% in the third quarter. Arizona State Retirement System now owns 11,253 shares of the software maker’s stock worth $1,006,000 after purchasing an additional 188 shares during the last quarter. Fifth Third Bancorp boosted its position in Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock worth $39,000 after purchasing an additional 208 shares during the last quarter. Signaturefd LLC boosted its position in Synaptics by 711.8% in the third quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Synaptics by 1.2% in the third quarter. Victory Capital Management Inc. now owns 29,101 shares of the software maker’s stock worth $2,603,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. StockNews.com upgraded Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. KeyCorp boosted their target price on Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. TD Cowen boosted their target price on Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Susquehanna boosted their target price on Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.40.

Synaptics Stock Performance

NASDAQ:SYNA opened at $90.31 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. Synaptics Incorporated has a 52-week low of $67.73 and a 52-week high of $121.37. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -45.38 and a beta of 1.59. The business’s fifty day moving average is $95.23 and its 200 day moving average is $100.82.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The company had revenue of $237.00 million for the quarter, compared to analyst estimates of $235.26 million. During the same period in the previous year, the company posted $1.47 EPS. The firm’s revenue for the quarter was down 32.9% compared to the same quarter last year. Research analysts predict that Synaptics Incorporated will post -0.48 EPS for the current year.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.