South Dakota Investment Council Cuts Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

South Dakota Investment Council cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 61.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,580 shares of the software maker’s stock after selling 13,519 shares during the period. South Dakota Investment Council’s holdings in Synaptics were worth $979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its position in Synaptics by 711.8% during the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after purchasing an additional 242 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Synaptics in the third quarter valued at about $31,000. Fifth Third Bancorp raised its holdings in shares of Synaptics by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares during the period. Headinvest LLC purchased a new position in Synaptics in the 3rd quarter worth approximately $40,000. Finally, Covestor Ltd grew its position in Synaptics by 180.3% in the third quarter. Covestor Ltd now owns 639 shares of the software maker’s stock valued at $57,000 after acquiring an additional 411 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Up 1.8 %

Shares of Synaptics stock opened at $87.57 on Friday. Synaptics Incorporated has a twelve month low of $67.73 and a twelve month high of $121.37. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -44.00 and a beta of 1.56. The company has a current ratio of 4.53, a quick ratio of 4.04 and a debt-to-equity ratio of 0.79. The business’s 50 day simple moving average is $97.14 and its 200-day simple moving average is $101.05.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $235.26 million. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same period last year, the business posted $1.47 earnings per share. Equities research analysts forecast that Synaptics Incorporated will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SYNA shares. Rosenblatt Securities upped their target price on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 9th. KeyCorp raised their price objective on Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Craig Hallum cut Synaptics from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 9th. Needham & Company LLC increased their price objective on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, TD Cowen boosted their target price on shares of Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.40.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $105.75, for a total transaction of $382,392.00. Following the sale, the insider now owns 31,847 shares of the company’s stock, valued at $3,367,820.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by 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.