Synaptics Incorporated (NASDAQ:SYNA) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,259,106 shares of the software maker's stock after purchasing an additional 193,182 shares during the period. Bank of New York Mellon Corp owned about 3.19% of Synaptics worth $111,053,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Heron Bay Capital Management raised its stake in shares of Synaptics by 1.3% during the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker's stock worth $897,000 after purchasing an additional 116 shares during the period. US Bancorp DE raised its stake in shares of Synaptics by 3.5% during the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker's stock worth $352,000 after purchasing an additional 123 shares during the period. CWM LLC increased its holdings in Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker's stock worth $66,000 after acquiring an additional 139 shares during the last quarter. Bridge City Capital LLC increased its holdings in Synaptics by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker's stock worth $1,863,000 after acquiring an additional 149 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Synaptics by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker's stock worth $4,748,000 after acquiring an additional 163 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Vikram Gupta sold 1,870 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $149,600.00. Following the completion of the sale, the insider now owns 46,797 shares of the company's stock, valued at $3,743,760. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 2,644 shares of company stock valued at $219,586. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYNA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 9th. TD Cowen decreased their price objective on Synaptics from $115.00 to $90.00 and set a "buy" rating for the company in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on Synaptics from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 9th. KeyCorp decreased their price objective on Synaptics from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, Craig Hallum decreased their price objective on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.44.

Synaptics Price Performance

SYNA traded down $2.77 during midday trading on Wednesday, hitting $77.99. The stock had a trading volume of 314,299 shares, compared to its average volume of 298,306. The company has a market cap of $3.08 billion, a P/E ratio of -28.78 and a beta of 1.47. The business has a fifty day moving average of $83.70 and a 200 day moving average of $91.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities analysts forecast that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

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.