Wealthfront Advisers LLC Makes New $3.63 Million Investment in Synaptics Incorporated (NASDAQ:SYNA)

Wealthfront Advisers LLC bought a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) in the 4th quarter, Holdings Channel.com reports. The firm bought 47,494 shares of the software maker’s stock, valued at approximately $3,625,000.

Several other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in shares of Synaptics by 1.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System lifted its position in shares of Synaptics by 2.1% in the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System lifted its holdings in Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after buying an additional 200 shares during the period. Inspire Advisors LLC lifted its stake in shares of Synaptics by 2.7% in the 4th quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock valued at $624,000 after purchasing an additional 212 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Synaptics by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after buying an additional 333 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This represents a 14.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Synaptics Stock Down 1.2 %

Shares of Synaptics stock opened at $61.71 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a twelve month low of $60.22 and a twelve month high of $102.99. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 14.59 and a beta of 1.55. The company’s 50 day moving average is $74.94 and its 200 day moving average is $75.49.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYNA. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Finally, Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and an average target price of $96.88.

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.