Raymond James Financial Inc. Invests $371,000 in Synaptics Incorporated (NASDAQ:SYNA)

Raymond James Financial Inc. purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,865 shares of the software maker's stock, valued at approximately $371,000.

A number of other hedge funds have also added to or reduced their stakes in SYNA. Quarry LP purchased a new stake in Synaptics in the third quarter worth about $31,000. KBC Group NV raised its position in shares of Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock worth $137,000 after purchasing an additional 837 shares during the last quarter. XTX Topco Ltd purchased a new stake in Synaptics during the 3rd quarter valued at about $227,000. Verition Fund Management LLC lifted its holdings in shares of Synaptics by 108.3% during the third quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker's stock valued at $437,000 after purchasing an additional 2,930 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Synaptics by 211.4% in the 4th quarter. Van ECK Associates Corp now owns 5,754 shares of the software maker's stock worth $439,000 after purchasing an additional 3,906 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Susquehanna boosted their price objective on Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Mizuho dropped their price target 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, Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Insider Buying and Selling at Synaptics

In related news, insider Ken Rizvi purchased 3,600 shares of the business's stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company's stock.

Synaptics Trading Down 0.6 %

SYNA stock traded down $0.32 during mid-day trading on Tuesday, reaching $49.57. 27,017 shares of the stock traded hands, compared to its average volume of 462,211. The stock has a market capitalization of $1.94 billion, a PE ratio of 11.74 and a beta of 1.60. Synaptics Incorporated has a one year low of $41.80 and a one year high of $98.00. The business has a 50-day moving average price of $63.16 and a two-hundred day moving average price of $72.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

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.