Synaptics (NASDAQ:SYNA) Insider Sells $404,133.73 in Stock

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total value of $404,133.73. Following the completion of the transaction, the insider owned 99,191 shares of the company’s stock, valued at approximately $9,372,557.59. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vikram Gupta also recently made the following trade(s):

• On Tuesday, August 18th, Vikram Gupta sold 4,277 shares of Synaptics stock. The stock was sold at an average price of $103.65, for a total value of $443,311.05.
• On Monday, July 27th, Vikram Gupta sold 360 shares of Synaptics stock. The stock was sold at an average price of $114.20, for a total transaction of $41,112.00.

Synaptics Stock Performance

Shares of SYNA stock opened at $95.08 on Friday. The firm has a fifty day moving average price of $113.13 and a 200 day moving average price of $103.68. The company has a market cap of $3.72 billion, a P/E ratio of -7.52 and a beta of 1.99. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.

Synaptics (NASDAQ:SYNA) last issued 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. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. During the same quarter last year, the company earned $1.01 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts predict that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYNA. Northland Securities cut shares of Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Barclays reaffirmed an “equal weight” rating and set a $135.00 price target (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. Finally, Wells Fargo & Company reduced their target price on Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $123.91.

Hedge Funds Weigh In On Synaptics

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Synaptics by 11,977.6% in the second quarter. California State Teachers Retirement System now owns 5,530,471 shares of the software maker’s stock worth $687,050,000 after acquiring an additional 5,484,680 shares in the last quarter. State Street Corp increased its position in shares of Synaptics by 0.5% during the second quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after acquiring an additional 9,335 shares during the last quarter. Orbis Allan Gray Ltd raised its position in shares of Synaptics by 9.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock valued at $113,712,000 after purchasing an additional 137,926 shares in the last quarter. William Blair Investment Management LLC bought a new position in Synaptics during the 2nd quarter valued at $153,998,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Synaptics during the second quarter worth about $133,656,000. 99.43% of the stock is owned by institutional investors and hedge funds.

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.