The Manufacturers Life Insurance Company trimmed its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 88.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,121 shares of the software maker's stock after selling 399,928 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Synaptics worth $4,044,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SYNA. Point72 Asset Management L.P. boosted its stake in Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker's stock worth $71,875,000 after purchasing an additional 809,712 shares during the period. Bank of New York Mellon Corp grew its position in Synaptics by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker's stock worth $111,053,000 after buying an additional 193,182 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Synaptics by 39.1% in the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker's stock worth $48,153,000 after acquiring an additional 153,434 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker's stock valued at $14,200,000 after buying an additional 75,680 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in shares of Synaptics by 56.0% in the 2nd quarter. Emerald Advisers LLC now owns 202,283 shares of the software maker's stock worth $17,841,000 after buying an additional 72,611 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
SYNA has been the subject of a number of recent research reports. Susquehanna dropped their price objective on shares of Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a research note on Monday, October 21st. KeyCorp cut Synaptics from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Rosenblatt Securities cut their price objective on shares of Synaptics from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Craig Hallum decreased their target price on shares of Synaptics from $105.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.33.
Check Out Our Latest Stock Analysis on SYNA
Synaptics Trading Up 2.7 %
Shares of SYNA stock traded up $2.12 during mid-day trading on Friday, reaching $80.50. The company's stock had a trading volume of 342,614 shares, compared to its average volume of 640,113. The company's 50 day simple moving average is $75.03 and its 200-day simple moving average is $80.74. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a 12-month low of $67.83 and a 12-month high of $121.37. The firm has a market capitalization of $3.22 billion, a PE ratio of 20.38 and a beta of 1.45.
Insider Activity at Synaptics
In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $80.00, for a total transaction of $218,480.00. Following the completion of the sale, the insider now owns 43,245 shares in the company, valued at $3,459,600. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company's stock.
Synaptics Company Profile
(
Free Report)
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.
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