Point72 Asset Management L.P. raised its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 15,571.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 814,912 shares of the software maker's stock after buying an additional 809,712 shares during the period. Point72 Asset Management L.P. owned about 2.06% of Synaptics worth $71,875,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. CWM LLC grew its stake in shares of Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker's stock valued at $66,000 after buying an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Synaptics in the second quarter worth approximately $67,000. Register Financial Advisors LLC acquired a new position in shares of Synaptics during the 1st quarter worth $76,000. Innealta Capital LLC bought a new position in shares of Synaptics during the 2nd quarter valued at $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at $141,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $149,600.00. Following the sale, the insider now owns 46,797 shares of the company's stock, valued at approximately $3,743,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company's stock.
Shares of Synaptics stock opened at $72.30 on Thursday. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37. The company's fifty day simple moving average is $77.99 and its 200-day simple moving average is $87.04. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -26.68 and a beta of 1.47. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66.
Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. As a group, sell-side analysts expect that Synaptics Incorporated will post 0.72 EPS for the current year.
Several equities analysts have commented on SYNA shares. KeyCorp lowered their target price on shares of Synaptics from $115.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. TD Cowen cut their price objective on Synaptics from $115.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Craig Hallum decreased their target price on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a research report on Friday, August 9th. Needham & Company LLC dropped their price target on shares of Synaptics from $110.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $105.44.
View Our Latest Research Report on SYNA
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Synaptics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Synaptics wasn't on the list.
While Synaptics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.