Geode Capital Management LLC Increases Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Geode Capital Management LLC grew its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 978,494 shares of the software maker's stock after purchasing an additional 9,799 shares during the period. Geode Capital Management LLC owned approximately 2.44% of Synaptics worth $74,695,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYNA. Wellington Management Group LLP lifted its position in Synaptics by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker's stock valued at $42,483,000 after acquiring an additional 95,432 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Synaptics in the 4th quarter worth approximately $31,000. Norges Bank purchased a new stake in shares of Synaptics in the 4th quarter worth approximately $43,481,000. JPMorgan Chase & Co. increased its position in Synaptics by 52.1% during the 4th quarter. JPMorgan Chase & Co. now owns 270,225 shares of the software maker's stock valued at $20,624,000 after buying an additional 92,549 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Synaptics by 28.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,576 shares of the software maker's stock worth $2,801,000 after acquiring an additional 7,622 shares in the last quarter. 99.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYNA has been the subject of several recent analyst reports. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. Mizuho decreased their target price 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 reiterated a "buy" rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, six have given 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 a consensus price target of $95.00.

Insider Buying and Selling

In other news, insider Ken Rizvi bought 3,600 shares of the firm's stock in a transaction on Monday, February 10th. The shares were bought at an average price 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 approximately $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Synaptics Stock Performance

Shares of Synaptics stock traded down $0.06 on Thursday, hitting $48.01. 64,469 shares of the company's stock were exchanged, compared to its average volume of 462,466. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $98.00. The company has a 50-day simple moving average of $62.19 and a 200-day simple moving average of $72.03. 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 $1.88 billion, a PE ratio of 11.36 and a beta of 1.60.

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.