5,600 Shares in Synaptics Incorporated $SYNA Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,600 shares of the software maker’s stock, valued at approximately $696,000.

A number of other hedge funds have also bought and sold shares of SYNA. CoreCap Advisors LLC acquired a new stake in shares of Synaptics during the second quarter worth $25,000. CIBC Private Wealth Group LLC grew its stake in shares of Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Synaptics during the fourth quarter valued at approximately $43,000. Lazard Asset Management LLC acquired a new stake in shares of Synaptics in the second quarter valued at $54,000. Finally, Global Retirement Partners LLC acquired a new stake in Synaptics during the second quarter valued at approximately $61,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SYNA shares. TD Cowen cut Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Susquehanna dropped their target price on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Zacks Research upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a report on Monday. Rosenblatt Securities decreased their price objective on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Finally, Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.91.

Synaptics Trading Down 5.2%

Shares of SYNA opened at $104.83 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $119.53 and a 200-day simple moving average of $103.20. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The stock has a market cap of $4.10 billion, a PE ratio of -8.29 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $1.01 earnings per share. On average, sell-side analysts predict that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

Insider Transactions at Synaptics

In related news, insider Lisa Bodensteiner sold 334 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $138.28, for a total value of $46,185.52. Following the completion of the transaction, the insider owned 61,989 shares in the company, valued at $8,571,838.92. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 8,833 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61. Following the sale, the insider owned 12,421 shares of the company’s stock, valued at approximately $1,753,472.57. The trade was a 41.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,345 shares of company stock worth $1,453,745. Insiders own 0.50% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.