Pentwater Capital Management LP Invests $2.48 Million in Synaptics Incorporated $SYNA

Pentwater Capital Management LP purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the software maker’s stock, valued at approximately $2,485,000.

Other institutional investors have also added to or reduced their stakes in the company. State of Michigan Retirement System increased its holdings in shares of Synaptics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,333 shares of the software maker’s stock worth $654,000 after buying an additional 100 shares during the last quarter. LPL Financial LLC raised its position in Synaptics by 3.9% during the fourth quarter. LPL Financial LLC now owns 3,216 shares of the software maker’s stock valued at $238,000 after purchasing an additional 121 shares during the period. ABS Investment Management LLC purchased a new stake in Synaptics during the second quarter valued at approximately $310,575,000. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Synaptics by 1.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,724 shares of the software maker’s stock valued at $646,000 after purchasing an additional 132 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Synaptics by 4.0% in the 4th quarter. Captrust Financial Advisors now owns 4,262 shares of the software maker’s stock worth $315,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Trading Up 0.9%

NASDAQ:SYNA opened at $95.70 on Thursday. The firm has a 50-day simple moving average of $114.91 and a 200-day simple moving average of $103.68. 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 $3.74 billion, a P/E ratio of -7.57 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Synaptics’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

Insider Transactions at Synaptics

In related news, insider Lisa Bodensteiner sold 6,056 shares of Synaptics stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total transaction of $627,522.72. Following the completion of the sale, the insider owned 78,634 shares of the company’s stock, valued at $8,148,055.08. The trade was a 7.15% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the transaction, the insider directly owned 103,468 shares of the company’s stock, valued at $10,724,458.20. This represents a 3.97% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,867 shares of company stock worth $1,624,996 over the last three months. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on SYNA shares. Craig Hallum set a $105.00 price target on Synaptics in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Zacks Research upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.91.

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.