Prudential Financial Inc. Grows Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Prudential Financial Inc. raised its stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 51.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 257,817 shares of the software maker's stock after purchasing an additional 87,746 shares during the quarter. Prudential Financial Inc. owned 0.64% of Synaptics worth $19,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SYNA. Quarry LP purchased a new stake in Synaptics in the 3rd quarter valued at $31,000. KBC Group NV boosted its stake in Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker's stock valued at $137,000 after acquiring an additional 837 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Synaptics during the 3rd quarter valued at approximately $227,000. Cibc World Markets Corp purchased a new stake in shares of Synaptics during the 4th quarter worth approximately $283,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Synaptics during the 4th quarter worth approximately $371,000. Institutional investors own 99.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYNA. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and set a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Mizuho cut their target price on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Finally, Susquehanna boosted their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $95.00.

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Synaptics Price Performance

Shares of SYNA traded up $0.66 during midday trading on Monday, hitting $63.72. 680,170 shares of the company traded hands, compared to its average volume of 435,962. Synaptics Incorporated has a one year low of $60.75 and a one year high of $99.57. The firm has a market cap of $2.50 billion, a P/E ratio of 15.06 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The stock has a 50-day moving average of $70.87 and a 200-day moving average of $74.42.

Insider Activity at Synaptics

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of Synaptics stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

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.