Principal Financial Group Inc. Cuts Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Principal Financial Group Inc. lessened its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 30.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,720 shares of the software maker's stock after selling 40,802 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Synaptics worth $7,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Choreo LLC boosted its position in Synaptics by 3.9% during the 2nd quarter. Choreo LLC now owns 4,845 shares of the software maker's stock valued at $417,000 after buying an additional 180 shares during the period. Arizona State Retirement System boosted its holdings in shares of Synaptics by 2.1% during the second quarter. Arizona State Retirement System now owns 11,002 shares of the software maker's stock worth $970,000 after purchasing an additional 229 shares during the period. Diversified Trust Co grew its stake in shares of Synaptics by 6.7% in the third quarter. Diversified Trust Co now owns 3,997 shares of the software maker's stock worth $310,000 after purchasing an additional 251 shares during the last quarter. GAMMA Investing LLC increased its holdings in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock valued at $29,000 after purchasing an additional 267 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Synaptics by 3.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,357 shares of the software maker's stock valued at $737,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 99.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SYNA shares. Susquehanna cut their price objective on Synaptics from $110.00 to $95.00 and set a "positive" rating on the stock in a research report on Monday, October 21st. KeyCorp cut shares of Synaptics from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Rosenblatt Securities decreased their price objective on shares of Synaptics from $130.00 to $92.00 and set a "buy" rating for the company in a report on Friday, November 8th. Needham & Company LLC cut their target price on shares of Synaptics from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, TD Cowen boosted their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.33.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the sale, the insider now directly owns 40,795 shares of the company's stock, valued at approximately $3,330,095.85. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.

Synaptics Stock Up 1.1 %

NASDAQ:SYNA traded up $0.82 during mid-day trading on Wednesday, hitting $76.32. 374,592 shares of the company's stock were exchanged, compared to its average volume of 349,589. Synaptics Incorporated has a one year low of $67.83 and a one year high of $115.85. The business has a fifty day moving average price of $76.54 and a 200 day moving average price of $78.79. The company has a market cap of $3.06 billion, a PE ratio of 19.32 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

About Synaptics

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.