Wellington Management Group LLP Sells 451,434 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Wellington Management Group LLP decreased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 49.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 461,211 shares of the software maker's stock after selling 451,434 shares during the period. Wellington Management Group LLP owned 1.15% of Synaptics worth $35,781,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 in the last quarter. Quarry LP bought a new stake in Synaptics in the third quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Synaptics in the second quarter valued at about $67,000. Innealta Capital LLC acquired a new position in Synaptics in the second quarter valued at approximately $83,000. Finally, 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 valued at $89,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 99.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYNA. TD Cowen boosted their price objective on Synaptics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Susquehanna decreased their price target on Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a research note on Monday, October 21st. KeyCorp downgraded Synaptics from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Needham & Company LLC cut their price objective on Synaptics from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Rosenblatt Securities cut their price objective on Synaptics from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.33.

Insider Activity

In other news, insider Vikram Gupta sold 2,731 shares of the company's stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the sale, the insider now directly owns 43,245 shares of the company's stock, valued at approximately $3,459,600. This represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Synaptics Price Performance

Shares of Synaptics stock traded up $0.04 during midday trading on Friday, reaching $79.04. The company had a trading volume of 334,800 shares, compared to its average volume of 342,741. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 20.00 and a beta of 1.45. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $75.43 and a 200 day simple moving average of $80.46.

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.