Synaptics Incorporated (SYNA) Position Maintained by Fernwood Investment Management LLC
Fernwood Investment Management LLC held its stake in Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent filing with the SEC. The fund owned 25,750 shares of the software maker’s stock at the end of the second quarter. Synaptics comprises 1.0% of Fernwood Investment Management LLC’s holdings, making the stock its 26th largest position. Fernwood Investment Management LLC’s holdings in Synaptics were worth $1,332,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. TrimTabs Asset Management LLC increased its stake in Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Synaptics during the first quarter valued at $104,000. LS Investment Advisors LLC increased its stake in Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Synaptics during the second quarter valued at $147,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Synaptics during the first quarter valued at $148,000. 93.01% of the stock is owned by institutional investors and hedge funds.
Synaptics Incorporated (SYNA) opened at 42.02 on Wednesday. The firm’s 50-day moving average price is $50.81 and its 200 day moving average price is $53.19. Synaptics Incorporated has a 52-week low of $39.89 and a 52-week high of $69.45. The firm has a market cap of $1.46 billion, a PE ratio of 30.67 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The firm had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $426.49 million. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. Synaptics’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities analysts anticipate that Synaptics Incorporated will post $4.60 earnings per share for the current year.
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Several analysts have recently weighed in on the company. Pacific Crest reissued an “equal weight” rating on shares of Synaptics in a report on Tuesday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price (down from $65.00) on shares of Synaptics in a report on Friday, August 4th. BidaskClub downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Vetr raised Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price objective for the company in a research note on Wednesday, May 17th. Finally, Craig Hallum raised Synaptics from a “hold” rating to a “buy” rating and reduced their price objective for the company from $62.00 to $55.00 in a research note on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Synaptics presently has a consensus rating of “Hold” and an average target price of $57.43.
In other news, insider Rick Bergman sold 10,000 shares of Synaptics stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of Synaptics stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the sale, the director now directly owns 16,166 shares in the company, valued at approximately $904,002.72. The disclosure for this sale can be found here. 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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