First Trust Advisors LP Invests $2.42 Million in Synaptics Incorporated (NASDAQ:SYNA)

First Trust Advisors LP acquired a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,660 shares of the software maker’s stock, valued at approximately $2,416,000. First Trust Advisors LP owned about 0.08% of Synaptics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of Synaptics during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Synaptics during the fourth quarter worth approximately $43,000. Sterling Capital Management LLC grew its stake in Synaptics by 811.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker’s stock worth $88,000 after acquiring an additional 1,031 shares during the period. KBC Group NV raised its holdings in Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after acquiring an additional 837 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Synaptics during the 4th quarter worth $283,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Insider Activity at Synaptics

In related news, insider Ken Rizvi purchased 3,600 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the acquisition, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Synaptics Price Performance

Synaptics stock opened at $58.62 on Monday. The firm has a fifty day moving average of $57.91 and a 200-day moving average of $70.26. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.30 billion, a P/E ratio of 13.86 and a beta of 1.67.

Analyst Ratings Changes

A number of brokerages have recently commented on SYNA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Susquehanna upped their price target on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.