Point72 Hong Kong Ltd Makes New $751,000 Investment in Synaptics Incorporated (NASDAQ:SYNA)

Point72 Hong Kong Ltd acquired a new position in Synaptics Incorporated (NASDAQ:SYNA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,836 shares of the software maker’s stock, valued at approximately $751,000.

Several other large investors have also recently bought and sold shares of the business. Barclays PLC increased its position in shares of Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after buying an additional 53,252 shares in the last quarter. Profit Investment Management LLC boosted its stake in shares of Synaptics by 8.9% during the fourth quarter. Profit Investment Management LLC now owns 24,716 shares of the software maker’s stock valued at $1,886,000 after acquiring an additional 2,029 shares during the last quarter. KBC Group NV boosted its stake in shares of Synaptics by 87.4% during the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after acquiring an additional 837 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Synaptics by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker’s stock valued at $4,671,000 after acquiring an additional 727 shares during the last quarter. Finally, 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 acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SYNA. Needham & Company LLC began coverage on Synaptics in a research note on Friday, May 9th. They set a “buy” rating and a $80.00 price objective on the stock. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Susquehanna increased their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Mizuho decreased their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $93.75.

Synaptics Stock Performance

NASDAQ SYNA opened at $65.38 on Friday. The firm has a market capitalization of $2.56 billion, a P/E ratio of 15.46 and a beta of 1.67. Synaptics Incorporated has a 1-year low of $41.80 and a 1-year high of $98.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The business’s 50-day simple moving average is $57.35 and its 200-day simple moving average is $69.65.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.03 million. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Equities analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.

About Synaptics

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.