California Public Employees Retirement System Decreases Stake in Synaptics Incorporated (NASDAQ:SYNA)

California Public Employees Retirement System trimmed its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,165 shares of the software maker's stock after selling 6,846 shares during the period. California Public Employees Retirement System owned about 0.16% of Synaptics worth $4,973,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYNA. Barclays PLC boosted its position in Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker's stock valued at $6,309,000 after acquiring an additional 53,252 shares in the last quarter. Vanguard Group Inc. lifted its position in Synaptics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker's stock valued at $374,569,000 after buying an additional 93,155 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Synaptics by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker's stock valued at $35,991,000 after buying an additional 23,702 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Synaptics by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker's stock worth $7,025,000 after buying an additional 333 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Synaptics during the 4th quarter valued at about $603,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Stock Performance

NASDAQ SYNA traded up $1.61 during trading hours on Monday, hitting $49.44. 34,957 shares of the company's stock traded hands, compared to its average volume of 461,122. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $98.00. The firm has a market capitalization of $1.94 billion, a P/E ratio of 11.55 and a beta of 1.60. The business's fifty day moving average price is $63.68 and its two-hundred day moving average price is $72.56.

Insider Activity

In related news, insider Ken Rizvi acquired 3,600 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the purchase, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYNA. Susquehanna lifted their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Mizuho lowered their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Finally, Craig Hallum upgraded Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Two 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.00.

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.