Synaptics Incorporated (NASDAQ:SYNA) Holdings Lowered by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 47.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,729 shares of the software maker's stock after selling 594,017 shares during the quarter. Alliancebernstein L.P. owned approximately 1.65% of Synaptics worth $50,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SYNA. Wellington Management Group LLP raised its position in shares of Synaptics by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker's stock valued at $42,483,000 after buying an additional 95,432 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Synaptics in the fourth quarter valued at $31,000. Norges Bank acquired a new position in Synaptics in the fourth quarter valued at $43,481,000. JPMorgan Chase & Co. lifted its position in Synaptics by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 270,225 shares of the software maker's stock worth $20,624,000 after buying an additional 92,549 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Synaptics by 28.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,576 shares of the software maker's stock worth $2,801,000 after buying an additional 7,622 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Down 10.2 %

Shares of SYNA stock traded down $5.32 during trading hours on Thursday, hitting $46.94. 121,542 shares of the company were exchanged, compared to its average volume of 457,376. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 11.14 and a beta of 1.60. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00. The business's 50-day simple moving average is $64.96 and its two-hundred day simple moving average is $72.95.

Analyst Ratings Changes

SYNA has been the topic of several recent analyst reports. Mizuho cut their price objective 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. Susquehanna upped their price objective on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a report on Wednesday, January 22nd. Craig Hallum upgraded Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Finally, Rosenblatt Securities restated a "buy" rating and set a $105.00 target price on shares of Synaptics in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Synaptics currently has an average rating of "Moderate Buy" and an average price target of $95.00.

Insider Activity at Synaptics

In related news, insider Ken Rizvi purchased 3,600 shares of the company's stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company's stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% 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.