Algert Global LLC Acquires 15,750 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Algert Global LLC raised its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 44.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,797 shares of the software maker’s stock after buying an additional 15,750 shares during the quarter. Algert Global LLC owned about 0.13% of Synaptics worth $3,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SYNA. CANADA LIFE ASSURANCE Co grew its holdings in shares of Synaptics by 27.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after buying an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Synaptics by 88.7% during the 2nd 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. Squarepoint Ops LLC bought a new stake in shares of Synaptics during the 2nd quarter worth $941,000. Finally, Intech Investment Management LLC purchased a new position in Synaptics in the second quarter worth $1,923,000. 99.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Needham & Company LLC cut their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, November 8th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. 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 note 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Price Performance

SYNA stock opened at $81.65 on Tuesday. 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 firm’s 50-day moving average price is $74.10 and its two-hundred day moving average price is $81.39. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 20.67 and a beta of 1.47. Synaptics Incorporated has a 12-month low of $67.83 and a 12-month high of $121.37.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at $3,663,120. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

About Synaptics

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.