Insider Buying: Synaptics Incorporated (NASDAQ:SYNA) Insider Buys 3,600 Shares of Stock

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) insider Ken Rizvi bought 3,600 shares of the company's stock in a transaction on Monday, February 10th. The shares were bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now directly 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 filing with the SEC, which is accessible through this link.

Synaptics Stock Down 1.0 %

NASDAQ:SYNA traded down $0.71 during trading hours on Friday, reaching $72.07. The company's stock had a trading volume of 389,877 shares, compared to its average volume of 722,631. The stock has a 50 day moving average price of $78.77 and a two-hundred day moving average price of $76.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. Synaptics Incorporated has a 12 month low of $67.16 and a 12 month high of $112.00. The company has a market capitalization of $2.89 billion, a P/E ratio of 17.04 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYNA. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $92.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Craig Hallum raised shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synaptics presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.25.

Hedge Funds Weigh In On Synaptics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock worth $29,000 after purchasing an additional 267 shares during the period. CWM LLC boosted its position in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker's stock worth $89,000 after purchasing an additional 423 shares in the last quarter. Creative Planning raised its stake in shares of Synaptics by 113.4% during the 3rd quarter. Creative Planning now owns 8,942 shares of the software maker's stock worth $694,000 after buying an additional 4,752 shares during the last quarter. nVerses Capital LLC increased its position in Synaptics by 75.0% during the 3rd quarter. nVerses Capital LLC now owns 2,800 shares of the software maker's stock worth $217,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of Synaptics by 20.1% during the 3rd quarter. Cardinal Capital Management now owns 26,705 shares of the software maker's stock worth $2,072,000 after acquiring an additional 4,465 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.