Expect Equity LLC Takes $2.19 Million Position in Synaptics Incorporated $SYNA

Expect Equity LLC bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 17,663 shares of the software maker’s stock, valued at approximately $2,194,000.

A number of other institutional investors have also added to or reduced their stakes in SYNA. CoreCap Advisors LLC bought a new position in Synaptics during the second quarter valued at about $25,000. Allworth Financial LP bought a new stake in shares of Synaptics in the 2nd quarter worth approximately $33,000. CIBC Private Wealth Group LLC lifted its position in shares of Synaptics by 119.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after acquiring an additional 190 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $61,000. Finally, State of Wyoming acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $65,000. 99.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Synaptics

In other news, insider Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total transaction of $443,311.05. Following the completion of the sale, the insider owned 103,468 shares of the company’s stock, valued at approximately $10,724,458.20. This trade represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,423 shares of company stock valued at $2,467,817 in the last ninety days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Susquehanna reduced their price objective on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Monday, June 29th. Barclays reissued an “equal weight” rating and issued a $135.00 target price (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. Finally, Rosenblatt Securities dropped their price target on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.91.

Synaptics Price Performance

Shares of SYNA stock opened at $94.87 on Wednesday. The stock’s fifty day simple moving average is $115.67 and its 200 day simple moving average is $103.62. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -7.50 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, analysts expect that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

About Synaptics

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.