First Mercantile Trust Co. Sells 1,056 Shares of Synaptics Inc. (SYNA)
First Mercantile Trust Co. lowered its stake in shares of Synaptics Inc. (NASDAQ:SYNA) by 9.4% during the second quarter, Holdings Channel reports. The firm owned 10,207 shares of the company’s stock after selling 1,056 shares during the period. First Mercantile Trust Co.’s holdings in Synaptics were worth $549,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of SYNA. Vanguard Group Inc. raised its stake in shares of Synaptics by 8.2% in the second quarter. Vanguard Group Inc. now owns 3,468,543 shares of the company’s stock valued at $186,435,000 after buying an additional 263,781 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake 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 valued at $84,047,000 after buying an additional 13,657 shares during the period. Investec Asset Management LTD raised its stake 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 valued at $77,717,000 after buying an additional 5,116 shares during the period. Cambiar Investors LLC raised its stake in shares of Synaptics by 6.0% in the second quarter. Cambiar Investors LLC now owns 613,223 shares of the company’s stock valued at $32,961,000 after buying an additional 34,827 shares during the period. Finally, Norges Bank acquired a new stake in shares of Synaptics during the fourth quarter valued at $33,908,000. Institutional investors and hedge funds own 89.79% of the company’s stock.
Shares of Synaptics Inc. (NASDAQ:SYNA) opened at 57.95 on Friday. Synaptics Inc. has a 1-year low of $47.09 and a 1-year high of $94.48. The company has a market capitalization of $2.02 billion, a P/E ratio of 30.34 and a beta of 1.64. The company’s 50 day moving average is $56.76 and its 200-day moving average is $64.52.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. The firm had revenue of $323.90 million for the quarter, compared to the consensus estimate of $318.48 million. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. The business’s revenue for the quarter was down 32.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.57 earnings per share. On average, equities research analysts forecast that Synaptics Inc. will post $5.18 EPS for the current year.
SYNA has been the topic of several recent research reports. Pacific Crest reiterated a “hold” rating on shares of Synaptics in a research report on Sunday, September 11th. Mizuho decreased their target price on shares of Synaptics from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 16th. Zacks Investment Research upgraded shares of Synaptics from a “strong sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research report on Wednesday, June 29th. Craig Hallum decreased their target price on shares of Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, Lake Street Capital lowered shares of Synaptics from a “buy” rating to a “hold” rating and decreased their target price for the company from $74.00 to $57.00 in a research report on Wednesday, July 6th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $76.33.
In other Synaptics news, SVP John Mcfarland sold 2,778 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total transaction of $166,680.00. Following the sale, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rick Bergman sold 10,000 shares of the stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $58.29, for a total transaction of $582,900.00. Following the sale, the insider now owns 82,491 shares in the company, valued at $4,808,400.39. The disclosure for this sale can be found here. Company 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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