Synaptics Inc. (SYNA) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. cut its stake in shares of Synaptics Inc. (NASDAQ:SYNA) by 55.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 26,950 shares of the company’s stock after selling 33,525 shares during the period. Sit Investment Associates Inc.’s holdings in Synaptics were worth $1,449,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. LS Investment Advisors LLC boosted its stake in Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Advisory Services Network LLC boosted its stake in Synaptics by 1.0% in the second quarter. Advisory Services Network LLC now owns 3,105 shares of the company’s stock valued at $167,000 after buying an additional 30 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in Synaptics during the second quarter valued at about $241,000. Algert Global LLC bought a new stake in Synaptics during the first quarter valued at about $262,000. Finally, Wealthsource Partners LLC bought a new stake in Synaptics during the first quarter valued at about $268,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Synaptics Inc. (NASDAQ:SYNA) traded down 3.3594% during trading on Tuesday, hitting $65.0101. 484,173 shares of the stock traded hands. Synaptics Inc. has a 52 week low of $47.09 and a 52 week high of $94.48. The stock has a market cap of $2.26 billion, a P/E ratio of 34.0367 and a beta of 1.76. The firm’s 50-day moving average is $58.48 and its 200 day moving average is $62.33.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate 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 was down 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 earnings per share. Equities research analysts forecast that Synaptics Inc. will post $5.18 earnings per share for the current fiscal year.
SYNA has been the topic of a number of research reports. Craig Hallum dropped their target price on shares of Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, July 29th. JPMorgan Chase & Co. reissued a “buy” rating and set a $71.00 target price on shares of Synaptics in a report on Wednesday, July 20th. Cowen and Company reissued a “buy” rating on shares of Synaptics in a report on Friday, June 17th. Needham & Company LLC reissued a “buy” rating and set a $88.00 target price on shares of Synaptics in a report on Friday, June 17th. Finally, Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Thursday, August 4th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.33.
In other Synaptics news, insider Ritu Favre sold 3,259 shares of Synaptics stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total transaction of $173,020.31. Following the completion of the transaction, the insider now directly owns 12,360 shares of the company’s stock, valued at $656,192.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rick Bergman sold 10,000 shares of Synaptics stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $58.29, for a total value of $582,900.00. Following the transaction, the insider now directly owns 82,491 shares of the company’s stock, 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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