State Board of Administration of Florida Retirement System Sells 5,752 Shares of Synaptics Inc. (SYNA)
State Board of Administration of Florida Retirement System decreased its position in shares of Synaptics Inc. (NASDAQ:SYNA) by 21.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,984 shares of the company’s stock after selling 5,752 shares during the period. State Board of Administration of Florida Retirement System owned 0.06% of Synaptics worth $1,128,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its position in shares of Synaptics by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,054,010 shares of the company’s stock worth $84,047,000 after buying an additional 13,657 shares during the period. Investec Asset Management LTD boosted its position in shares of Synaptics by 0.5% in the first quarter. Investec Asset Management LTD now owns 974,629 shares of the company’s stock worth $77,717,000 after buying an additional 5,116 shares during the period. Cambiar Investors LLC boosted its position in shares of Synaptics by 6.0% in the second quarter. Cambiar Investors LLC now owns 613,223 shares of the company’s stock worth $32,961,000 after buying an additional 34,827 shares during the period. Norges Bank bought a new position in shares of Synaptics during the fourth quarter worth about $33,908,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Synaptics by 40,244.0% in the first quarter. Panagora Asset Management Inc. now owns 322,752 shares of the company’s stock worth $25,736,000 after buying an additional 321,952 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
Synaptics Inc. (NASDAQ:SYNA) traded down 1.09% during midday trading on Thursday, reaching $57.95. 496,323 shares of the company’s stock were exchanged. Synaptics Inc. has a 12-month low of $47.09 and a 12-month high of $94.48. The stock’s 50-day moving average is $56.66 and its 200-day moving average is $64.57. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 30.34 and a beta of 1.64.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.46. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. The business had revenue of $323.90 million for the quarter, compared to the consensus estimate of $318.48 million. During the same period in the prior year, the firm earned $1.57 EPS. The company’s revenue for the quarter was down 32.4% compared to the same quarter last year. On average, equities analysts forecast that Synaptics Inc. will post $5.18 earnings per share for the current year.
Several analysts recently issued reports on SYNA shares. Pacific Crest reissued a “hold” rating on shares of Synaptics in a research note on Sunday, September 11th. Mizuho cut their target price on Synaptics from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 16th. Zacks Investment Research raised Synaptics from a “strong sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research note on Wednesday, June 29th. Craig Hallum cut their target price on Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Finally, Lake Street Capital cut Synaptics from a “buy” rating to a “hold” rating and cut their target price for the stock from $74.00 to $57.00 in a research note on Wednesday, July 6th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.33.
In other news, SVP John Mcfarland sold 2,778 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total transaction of $166,680.00. Following the transaction, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ritu Favre sold 3,259 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.09, for a total transaction of $173,020.31. Following the transaction, the insider now owns 12,360 shares in the company, valued at $656,192.40. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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