Algert Global LLC Grows Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Algert Global LLC increased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 44.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,797 shares of the software maker's stock after purchasing an additional 15,750 shares during the quarter. Algert Global LLC owned 0.13% of Synaptics worth $3,941,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new stake in Synaptics in the third quarter valued at $266,000. Charles Schwab Investment Management Inc. lifted its holdings in Synaptics by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker's stock valued at $34,747,000 after acquiring an additional 17,119 shares during the period. Intech Investment Management LLC lifted its holdings in Synaptics by 27.0% in the third quarter. Intech Investment Management LLC now owns 27,689 shares of the software maker's stock valued at $2,148,000 after acquiring an additional 5,883 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Synaptics by 232.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,406 shares of the software maker's stock valued at $652,000 after acquiring an additional 5,880 shares during the period. Finally, Pier 88 Investment Partners LLC lifted its holdings in Synaptics by 28.2% in the third quarter. Pier 88 Investment Partners LLC now owns 11,115 shares of the software maker's stock valued at $862,000 after acquiring an additional 2,445 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

Synaptics Price Performance

Synaptics stock traded down $0.88 during midday trading on Tuesday, reaching $80.77. 144,166 shares of the company were exchanged, compared to its average volume of 334,265. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 20.59 and a beta of 1.47. The firm's 50-day simple moving average is $74.20 and its 200-day simple moving average is $81.32. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

Wall Street Analyst Weigh In

A number of research firms have commented on SYNA. Susquehanna reduced their target price on Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a report on Monday, October 21st. TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. KeyCorp downgraded Synaptics from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Needham & Company LLC cut their price target on Synaptics from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Craig Hallum cut their price target on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now owns 43,245 shares in the company, valued at $3,459,600. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

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.