Retirement Systems of Alabama Sells 255 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Retirement Systems of Alabama trimmed its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,596 shares of the software maker’s stock after selling 255 shares during the period. Retirement Systems of Alabama owned about 0.16% of Synaptics worth $7,027,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SYNA. Diversified Trust Co increased its stake 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 period. Arizona State Retirement System increased its stake in Synaptics by 1.7% in the 3rd quarter. Arizona State Retirement System now owns 11,253 shares of the software maker’s stock worth $1,006,000 after buying an additional 188 shares during the period. Fifth Third Bancorp lifted its holdings in Synaptics by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares in the last quarter. Signaturefd LLC boosted its position in 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 buying an additional 242 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Synaptics by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 29,101 shares of the software maker’s stock worth $2,603,000 after acquiring an additional 334 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Up 0.8 %

SYNA stock opened at $90.31 on Friday. Synaptics Incorporated has a one year low of $67.73 and a one year high of $121.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. The firm has a 50-day simple moving average of $95.23 and a two-hundred day simple moving average of $100.85.

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

Insider Transactions at Synaptics

In related 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 transaction of $382,392.00. Following the transaction, the insider now directly owns 31,847 shares of the company’s stock, valued at approximately $3,367,820.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SYNA shares. TD Cowen lifted their price target on shares of Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. KeyCorp upped their target price on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a 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. Mizuho lowered their price objective on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, Needham & Company LLC increased their target price on shares of Synaptics from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Synaptics has an average rating of “Moderate Buy” and an average target price of $122.67.

About Synaptics

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.