Synaptics Inc. (SYNA) Stake Decreased by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. decreased its stake in Synaptics Inc. (NASDAQ:SYNA) by 20.6% during the third quarter, Holdings Channel reports. The institutional investor owned 28,100 shares of the company’s stock after selling 7,300 shares during the period. Icon Advisers Inc. Co. owned 0.08% of Synaptics worth $1,646,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYNA. Vanguard Group Inc. raised its position 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 worth $186,435,000 after buying an additional 263,781 shares during the period. BlackRock Fund Advisors raised its position in shares of Synaptics by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,941,137 shares of the company’s stock worth $104,336,000 after buying an additional 55,284 shares during the period. State Street Corp raised its position in shares of Synaptics by 2.1% in the second quarter. State Street Corp now owns 1,295,662 shares of the company’s stock worth $69,640,000 after buying an additional 26,961 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Synaptics by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,070,840 shares of the company’s stock worth $57,558,000 after buying an additional 16,830 shares during the period. Finally, State of Tennessee Treasury Department raised its position in shares of Synaptics by 32.9% in the second quarter. State of Tennessee Treasury Department now owns 737,386 shares of the company’s stock worth $39,635,000 after buying an additional 182,386 shares during the period. Institutional investors own 92.58% of the company’s stock.
Shares of Synaptics Inc. (NASDAQ:SYNA) traded up 2.65% during trading on Wednesday, reaching $54.58. 549,226 shares of the company’s stock traded hands. Synaptics Inc. has a 52-week low of $47.09 and a 52-week high of $91.68. The company’s 50-day moving average is $59.11 and its 200 day moving average is $57.87. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 38.90 and a beta of 1.39.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by $0.03. The firm had revenue of $386.20 million for the quarter, compared to analysts’ expectations of $372.65 million. Synaptics had a net margin of 3.29% and a return on equity of 15.27%. Synaptics’s revenue was down 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 EPS. Equities analysts forecast that Synaptics Inc. will post $4.89 EPS for the current year.
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SYNA has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, August 30th. Pacific Crest reissued a “sector perform” rating on shares of Synaptics in a report on Monday, August 29th. Needham & Company LLC downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Finally, Craig Hallum downgraded shares of Synaptics from a “buy” rating to a “hold” rating and cut their price objective for the company from $70.00 to $65.00 in a report on Friday, October 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Synaptics presently has an average rating of “Hold” and an average price target of $73.08.
In other Synaptics news, insider Rick Bergman sold 10,000 shares of Synaptics stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $58.29, for a total transaction of $582,900.00. Following the completion of the sale, the insider now directly owns 82,491 shares in the company, valued at $4,808,400.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin D. Barber sold 13,594 shares of Synaptics stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $52.21, for a total transaction of $709,742.74. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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