Peregrine Capital Management LLC Purchases 138,748 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Peregrine Capital Management LLC lifted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 210.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,829 shares of the software maker's stock after purchasing an additional 138,748 shares during the quarter. Peregrine Capital Management LLC owned 0.51% of Synaptics worth $15,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SYNA. Quarry LP purchased a new position in shares of Synaptics during the third quarter worth about $31,000. CWM LLC boosted its stake in 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 buying an additional 423 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Synaptics in the third quarter worth approximately $132,000. 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 worth $137,000 after buying an additional 837 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Synaptics in the third quarter worth approximately $218,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Synaptics Trading Down 4.9 %

SYNA stock traded down $3.73 during midday trading on Friday, hitting $71.76. The company had a trading volume of 581,240 shares, compared to its average volume of 750,128. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 52 week low of $67.16 and a 52 week high of $109.00. The stock's 50 day moving average price is $78.00 and its 200 day moving average price is $76.36. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 16.96 and a beta of 1.45.

Wall Street Analysts Forecast Growth

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

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the transaction, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Rizvi bought 3,600 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the acquisition, the insider now owns 27,630 shares of the company's stock, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.