Principal Financial Group Inc. cut its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,522 shares of the software maker's stock after selling 16,759 shares during the period. Principal Financial Group Inc. owned about 0.34% of Synaptics worth $11,688,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker's stock worth $66,000 after purchasing an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics during the 2nd quarter worth about $67,000. Register Financial Advisors LLC bought a new position in Synaptics during the 1st quarter worth about $76,000. Innealta Capital LLC bought a new position in Synaptics during the 2nd quarter worth about $83,000. Finally, Truist Financial Corp bought a new position in Synaptics during the 4th quarter worth about $212,000. 99.43% of the stock is currently owned by institutional investors.
Insider Transactions at Synaptics
In other news, insider Vikram Gupta sold 1,008 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares of the company's stock, valued at approximately $3,663,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 3,652 shares of company stock valued at $300,226 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Synaptics from $115.00 to $95.00 and set an "equal weight" rating on the stock in a report on Friday, May 10th. TD Cowen decreased their price target on shares of Synaptics from $115.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 9th. KeyCorp decreased their price target on shares of Synaptics from $115.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Craig Hallum decreased their price target on shares of Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.44.
Check Out Our Latest Stock Report on Synaptics
Synaptics Stock Performance
SYNA traded down $3.76 during trading on Friday, reaching $71.38. 302,037 shares of the company's stock were exchanged, compared to its average volume of 380,382. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The stock has a market capitalization of $2.83 billion, a P/E ratio of -26.34 and a beta of 1.47. The company's fifty day simple moving average is $82.20 and its 200-day simple moving average is $89.80.
Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. During the same period last year, the firm posted $0.01 EPS. Synaptics's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts predict that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.
About Synaptics
(
Free Report)
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.
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