Squarepoint Ops LLC Acquires Shares of 10,671 Synaptics Incorporated (NASDAQ:SYNA)

Squarepoint Ops LLC acquired a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,671 shares of the software maker's stock, valued at approximately $941,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake 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. purchased a new position in Synaptics in the 2nd quarter worth about $67,000. Register Financial Advisors LLC bought a new position in Synaptics during the first quarter valued at approximately $76,000. Innealta Capital LLC purchased a new position in Synaptics in the second quarter worth about $83,000. Finally, nVerses Capital LLC bought a new stake in Synaptics during the second quarter valued at approximately $141,000. Institutional investors own 99.43% of the company's stock.

Synaptics Stock Performance

NASDAQ:SYNA traded down $0.28 during trading hours on Monday, reaching $76.06. 203,579 shares of the company's stock were exchanged, compared to its average volume of 306,080. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -28.07 and a beta of 1.46. The company has a 50-day moving average of $75.98 and a 200 day moving average of $85.60. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $245.17 million. During the same period last year, the company posted $0.01 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that Synaptics Incorporated will post 0.72 EPS for the current year.

Insider Transactions at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the business's stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $80.00, for a total transaction of $218,480.00. Following the transaction, the insider now owns 43,245 shares in the company, valued at $3,459,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 5,609 shares of company stock worth $448,720 in the last ninety days. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

SYNA has been the subject of several recent analyst reports. KeyCorp dropped their target price on shares of Synaptics from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Needham & Company LLC cut their price target on shares of Synaptics from $110.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Synaptics from $120.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. TD Cowen reduced their price target on shares of Synaptics from $115.00 to $90.00 and set a "buy" 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 research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.44.

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.