KLP Kapitalforvaltning AS Makes New Investment in Synaptics Incorporated (NASDAQ:SYNA)

KLP Kapitalforvaltning AS purchased a new position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,900 shares of the software maker's stock, valued at approximately $603,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYNA. TimesSquare Capital Management LLC increased its holdings in Synaptics by 46.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker's stock valued at $40,170,000 after buying an additional 165,866 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Synaptics by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker's stock valued at $35,991,000 after acquiring an additional 23,702 shares during the last quarter. Peregrine Capital Management LLC raised its position in Synaptics by 210.0% during the fourth quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker's stock valued at $15,633,000 after purchasing an additional 138,748 shares in the last quarter. Rhumbline Advisers lifted its stake in Synaptics by 2.1% during the fourth quarter. Rhumbline Advisers now owns 134,478 shares of the software maker's stock worth $10,263,000 after purchasing an additional 2,752 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings 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 valued at $7,025,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

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Synaptics Trading Down 5.6 %

Shares of NASDAQ:SYNA traded down $2.69 during mid-day trading on Monday, reaching $45.56. 1,912,933 shares of the company's stock were exchanged, compared to its average volume of 450,666. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. Synaptics Incorporated has a twelve month low of $44.35 and a twelve month high of $98.00. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.77 and a beta of 1.60. The business's fifty day moving average price is $67.94 and its 200-day moving average price is $73.68.

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 stock was acquired at an average price of $69.15 per share, with a total value 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SYNA shares. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Mizuho lowered their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.00.

Synaptics 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.