TimesSquare Capital Management LLC Has $27.97 Million Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

TimesSquare Capital Management LLC decreased its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,469 shares of the software maker's stock after selling 24,203 shares during the period. TimesSquare Capital Management LLC owned about 0.90% of Synaptics worth $27,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Emerald Advisers LLC grew its stake in shares of Synaptics by 2.5% in the third quarter. Emerald Advisers LLC now owns 207,287 shares of the software maker's stock valued at $16,081,000 after buying an additional 5,004 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Synaptics in the 3rd quarter valued at about $132,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of Synaptics by 8.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 192,003 shares of the software maker's stock valued at $14,896,000 after acquiring an additional 14,181 shares during the period. State of Alaska Department of Revenue increased its stake in Synaptics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker's stock valued at $352,000 after purchasing an additional 310 shares during the period. Finally, CWC Advisors LLC. purchased a new stake in Synaptics during the 3rd quarter valued at approximately $297,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Synaptics Stock Performance

SYNA stock traded up $6.28 during midday trading on Friday, hitting $80.92. 893,079 shares of the company traded hands, compared to its average volume of 303,878. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.49 and a beta of 1.47. Synaptics Incorporated has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $73.79 and a 200-day simple moving average of $82.43.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.09. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. Synaptics had a return on equity of 1.34% and a net margin of 16.14%. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, equities research analysts predict that Synaptics Incorporated will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SYNA shares. JPMorgan Chase & Co. cut their price target on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Craig Hallum cut their price objective on shares of Synaptics from $105.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, August 9th. KeyCorp downgraded Synaptics from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. Susquehanna decreased their price objective on shares of Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a research report on Monday, October 21st. Finally, Needham & Company LLC lowered their price objective on shares of Synaptics from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.33.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares of the company's stock, valued at $3,459,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by company insiders.

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.