Point72 Asset Management L.P. Has $15.75 Million Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Point72 Asset Management L.P. lessened its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 75.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,026 shares of the software maker's stock after selling 611,886 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.51% of Synaptics worth $15,751,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SYNA. GAMMA Investing LLC grew its position in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock valued at $29,000 after purchasing an additional 267 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics during the 2nd quarter valued at $67,000. Innealta Capital LLC purchased a new position in shares of Synaptics during the 2nd quarter valued at $83,000. CWM LLC increased its stake in shares of Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker's stock worth $89,000 after acquiring an additional 423 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of Synaptics during the third quarter worth $132,000. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Performance

Synaptics stock traded up $2.12 on Friday, reaching $80.50. 342,614 shares of the stock were exchanged, compared to its average volume of 640,113. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a twelve month low of $67.83 and a twelve month high of $121.37. The firm has a fifty day moving average price of $75.03 and a two-hundred day moving average price of $80.74. The stock has a market cap of $3.22 billion, a PE ratio of 20.38 and a beta of 1.45.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYNA. Rosenblatt Securities dropped their target price on Synaptics from $130.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. TD Cowen lifted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. Finally, KeyCorp lowered shares of Synaptics from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.33.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.