JPMorgan Chase & Co. Has $20.62 Million Stake in Synaptics Incorporated (NASDAQ:SYNA)

JPMorgan Chase & Co. lifted its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 270,225 shares of the software maker's stock after purchasing an additional 92,549 shares during the quarter. JPMorgan Chase & Co. owned about 0.67% of Synaptics worth $20,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SYNA. Verition Fund Management LLC lifted its holdings in shares of Synaptics by 108.3% during the 3rd quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker's stock valued at $437,000 after purchasing an additional 2,930 shares during the last quarter. Quarry LP acquired a new stake in shares of Synaptics in the third quarter worth approximately $31,000. XTX Topco Ltd purchased a new position in shares of Synaptics in the third quarter worth about $227,000. Barclays PLC lifted its position in Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker's stock worth $6,309,000 after buying an additional 53,252 shares in the last quarter. Finally, Profit Investment Management LLC grew its holdings in shares of Synaptics by 8.9% in the fourth quarter. Profit Investment Management LLC now owns 24,716 shares of the software maker's stock valued at $1,886,000 after purchasing an additional 2,029 shares during the period. Institutional investors own 99.43% of the company's stock.

Synaptics Stock Down 2.2 %

Shares of NASDAQ:SYNA traded down $1.09 during midday trading on Wednesday, reaching $48.28. The company had a trading volume of 62,630 shares, compared to its average volume of 462,311. The stock has a market capitalization of $1.89 billion, a P/E ratio of 11.40 and a beta of 1.60. The stock's fifty day moving average price is $62.65 and its 200-day moving average price is $72.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SYNA shares. Mizuho decreased 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. Craig Hallum raised shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Susquehanna upped their price objective on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Synaptics presently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Insider Buying and Selling

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of Synaptics stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares of the company's stock, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.

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.