Synaptics Incorporated (SYNA) Position Reduced by Great Lakes Advisors LLC
Great Lakes Advisors LLC lowered its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,740 shares of the software maker’s stock after selling 11,136 shares during the period. Great Lakes Advisors LLC owned about 0.26% of Synaptics worth $4,537,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SYNA. BlackRock Inc. raised its position in Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after buying an additional 4,182,029 shares during the last quarter. Ameriprise Financial Inc. raised its position in Synaptics by 18.2% in the first quarter. Ameriprise Financial Inc. now owns 4,351,207 shares of the software maker’s stock worth $215,426,000 after buying an additional 671,478 shares during the last quarter. FMR LLC raised its position in Synaptics by 387.8% in the first quarter. FMR LLC now owns 513,850 shares of the software maker’s stock worth $25,441,000 after buying an additional 408,500 shares during the last quarter. Morgan Stanley raised its position in Synaptics by 180.2% in the first quarter. Morgan Stanley now owns 610,070 shares of the software maker’s stock worth $30,206,000 after buying an additional 392,375 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Synaptics by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,117,448 shares of the software maker’s stock worth $203,855,000 after buying an additional 346,309 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.
Shares of Synaptics Incorporated (NASDAQ:SYNA) opened at 40.33 on Friday. The company has a 50-day moving average price of $48.08 and a 200-day moving average price of $52.31. Synaptics Incorporated has a 52-week low of $38.50 and a 52-week high of $69.45. The company has a market cap of $1.36 billion, a P/E ratio of 29.44 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The business’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. On average, equities analysts predict that Synaptics Incorporated will post $4.61 EPS for the current year.
SYNA has been the subject of a number of recent analyst reports. Vetr raised Synaptics from a “hold” rating to a “buy” rating and set a $57.50 target price for the company in a report on Wednesday, May 17th. Zacks Investment Research lowered Synaptics from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. BidaskClub raised Synaptics from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Jefferies Group LLC reaffirmed an “underperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Synaptics in a report on Saturday, April 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 target price on shares of Synaptics in a report on Monday, June 26th. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $53.97.
In other news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total value of $556,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the completion of the sale, the director now owns 16,166 shares of the company’s stock, valued at $904,002.72. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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