Handelsbanken Fonder AB Buys 5,000 Shares of Synaptics Incorporated $SYNA

Handelsbanken Fonder AB grew its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 34.2% during the second quarter, Holdings Channel.com reports. The fund owned 19,637 shares of the software maker’s stock after purchasing an additional 5,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Synaptics were worth $2,440,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Synaptics by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock worth $5,780,000 after purchasing an additional 4,917 shares during the last quarter. M&T Bank Corp purchased a new stake in Synaptics in the 2nd quarter valued at about $205,000. First Trust Advisors LP increased its stake in Synaptics by 9.8% in the 2nd quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock valued at $3,915,000 after buying an additional 5,393 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Synaptics by 472.1% during the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock worth $5,801,000 after buying an additional 73,848 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Synaptics by 9.1% during the 2nd quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock worth $1,514,000 after buying an additional 1,939 shares in the last quarter. Institutional investors own 99.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SYNA shares. Northland Securities lowered Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Wells Fargo & Company dropped their price target on Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Barclays reissued an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. TD Cowen downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Synaptics presently has an average rating of “Hold” and a consensus target price of $123.91.

Insiders Place Their Bets

In other Synaptics news, insider Lisa Bodensteiner sold 334 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $138.28, for a total value of $46,185.52. Following the sale, the insider directly owned 61,989 shares in the company, valued at $8,571,838.92. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $141.17, for a total value of $1,246,954.61. Following the completion of the sale, the insider owned 12,421 shares in the company, valued at approximately $1,753,472.57. The trade was a 41.56% decrease in their ownership of the stock. 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 11,649 shares of company stock valued at $1,603,484 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Synaptics Price Performance

Synaptics stock opened at $108.63 on Monday. The firm has a 50 day moving average price of $120.56 and a 200-day moving average price of $102.88. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11. The company has a market capitalization of $4.25 billion, a P/E ratio of -8.59 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter in the previous year, the firm posted $1.01 EPS. Synaptics’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Synaptics Incorporated will post 1.86 EPS for the current 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.