SG Americas Securities LLC Acquires 8,939 Shares of Synaptics Incorporated (NASDAQ:SYNA)

SG Americas Securities LLC grew its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 269.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,251 shares of the software maker's stock after buying an additional 8,939 shares during the period. SG Americas Securities LLC's holdings in Synaptics were worth $950,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Synaptics by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker's stock valued at $156,718,000 after acquiring an additional 44,548 shares during the period. Bank of New York Mellon Corp boosted its stake in Synaptics by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker's stock valued at $111,053,000 after purchasing an additional 193,182 shares during the period. Dimensional Fund Advisors LP grew its holdings in Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker's stock valued at $80,027,000 after buying an additional 31,643 shares during the last quarter. Point72 Asset Management L.P. increased 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 worth $71,875,000 after buying an additional 809,712 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Synaptics by 39.1% during the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker's stock worth $48,153,000 after buying an additional 153,434 shares during the last quarter. Institutional investors own 99.43% of the company's stock.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business'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 sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 5,609 shares of company stock worth $448,720. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. KeyCorp downgraded shares of Synaptics from an "overweight" rating to a "sector weight" rating in a report on Tuesday. Craig Hallum reduced their target price on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased 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. Finally, TD Cowen dropped their price target on shares of Synaptics from $115.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Synaptics currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.44.

Synaptics Stock Up 1.4 %

Shares of NASDAQ:SYNA traded up $1.00 during trading on Friday, hitting $73.20. 368,480 shares of the company's stock traded hands, compared to its average volume of 308,184. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $75.20 and a 200-day moving average price of $84.99. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -27.01 and a beta of 1.46.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results 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. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The business's revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Synaptics Incorporated will post 0.72 EPS for the current fiscal year.

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.