Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC cut its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 31.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,687 shares of the software maker's stock after selling 10,275 shares during the period. Profit Investment Management LLC owned approximately 0.06% of Synaptics worth $1,760,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Synaptics in the first quarter worth about $586,000. CANADA LIFE ASSURANCE Co grew its position in Synaptics by 27.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker's stock valued at $2,807,000 after purchasing an additional 6,276 shares during the period. Point72 Asset Management L.P. grew its position in Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker's stock valued at $71,875,000 after purchasing an additional 809,712 shares during the period. Emerald Mutual Fund Advisers Trust lifted its stake in Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker's stock valued at $14,200,000 after acquiring an additional 75,680 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Synaptics during the 2nd quarter valued at $941,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. 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. Craig Hallum decreased their target price on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 9th. Needham & Company LLC reduced their price target on Synaptics from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Synaptics from $120.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Finally, KeyCorp downgraded Synaptics from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Synaptics currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.44.

Insider Activity

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 stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the transaction, the insider now owns 45,789 shares in the company, valued at $3,663,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 5,609 shares of company stock worth $448,720 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Synaptics Stock Performance

Synaptics stock traded up $1.00 during midday trading on Friday, hitting $73.20. 368,480 shares of the company were exchanged, compared to its average volume of 308,184. The firm has a market capitalization of $2.92 billion, a PE ratio of 23.61 and a beta of 1.46. Synaptics Incorporated has a fifty-two week low of $67.83 and a fifty-two week high of $121.37. The business has a fifty day simple moving average of $75.20 and a two-hundred day simple moving average of $85.07. 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 (NASDAQ:SYNA - Get Free Report) last issued 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. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. Synaptics's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 earnings per share. On average, sell-side analysts forecast that Synaptics Incorporated will post 0.72 earnings per share for the current 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.