Retirement Systems of Alabama Sells 1,012 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Retirement Systems of Alabama decreased its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 1.7% in the first quarter, Holdings Channel reports. The firm owned 60,196 shares of the software maker’s stock after selling 1,012 shares during the quarter. Retirement Systems of Alabama’s holdings in Synaptics were worth $3,836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Synaptics by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock worth $7,025,000 after acquiring an additional 333 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Synaptics by 37.8% in the fourth quarter. Jones Financial Companies Lllp now owns 19,829 shares of the software maker’s stock worth $1,513,000 after acquiring an additional 5,439 shares during the period. State of Michigan Retirement System grew its holdings in shares of Synaptics by 2.1% in the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after acquiring an additional 200 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Synaptics by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock worth $35,991,000 after acquiring an additional 23,702 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after acquiring an additional 200 shares during the period. Institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

Shares of Synaptics stock opened at $65.36 on Thursday. The stock’s 50-day simple moving average is $60.27 and its 200-day simple moving average is $66.94. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $98.00. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.83 and a beta of 1.68. The company has a quick ratio of 2.34, a current ratio of 2.88 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, analysts expect that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYNA shares. Needham & Company LLC started coverage on Synaptics in a report on Friday, May 9th. They set a “buy” rating and a $80.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. Finally, Mizuho lowered their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $93.75.

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.