Summit Investment Advisors Inc. Purchases 323 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Summit Investment Advisors Inc. lifted its position in Synaptics Incorporated (NASDAQ:SYNA) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,345 shares of the software maker’s stock after acquiring an additional 323 shares during the period. Summit Investment Advisors Inc.’s holdings in Synaptics were worth $1,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYNA. Sterling Capital Management LLC boosted its holdings in shares of Synaptics by 811.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker’s stock valued at $88,000 after buying an additional 1,031 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Synaptics in the fourth quarter worth about $651,000. Raymond James Financial Inc. bought a new position in shares of Synaptics during the fourth quarter valued at approximately $371,000. Invesco Ltd. lifted its holdings in shares of Synaptics by 0.9% during the fourth quarter. Invesco Ltd. now owns 82,249 shares of the software maker’s stock valued at $6,277,000 after purchasing an additional 697 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Synaptics by 19.3% in the 4th quarter. Bank of Montreal Can now owns 5,161 shares of the software maker’s stock worth $394,000 after purchasing an additional 834 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research report on Tuesday, February 4th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Mizuho reduced their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Synaptics Price Performance

NASDAQ SYNA opened at $49.37 on Wednesday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $1.93 billion, a P/E ratio of 11.67 and a beta of 1.60. The company has a 50-day moving average price of $62.65 and a 200-day moving average price of $72.20. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $98.00.

Insiders Place Their Bets

In related news, insider Ken Rizvi purchased 3,600 shares of the business’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Synaptics Profile

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.