Keene & Associates Inc. Lowers Position in Synaptics Incorporated (NASDAQ:SYNA)

Keene & Associates Inc. lessened its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,585 shares of the software maker’s stock after selling 125 shares during the period. Keene & Associates Inc.’s holdings in Synaptics were worth $295,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brown Brothers Harriman & Co. purchased a new position in shares of Synaptics in the 1st quarter valued at $49,000. Signaturefd LLC grew its stake in Synaptics by 711.8% in the third quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Synaptics in the third quarter worth about $31,000. Belpointe Asset Management LLC lifted its position in shares of Synaptics by 112.9% during the first quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock valued at $40,000 after buying an additional 193 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Synaptics by 92.4% in the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $105.75, for a total transaction of $382,392.00. Following the completion of the transaction, the insider now directly owns 31,847 shares of the company’s stock, valued at approximately $3,367,820.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Synaptics Stock Performance

Shares of Synaptics stock traded down $1.53 on Friday, reaching $91.00. 276,401 shares of the stock were exchanged, compared to its average volume of 224,883. Synaptics Incorporated has a twelve month low of $67.73 and a twelve month high of $121.37. The business has a 50 day moving average price of $101.63 and a two-hundred day moving average price of $101.43. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -45.73 and a beta of 1.56.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $237.00 million during the quarter, compared to the consensus estimate of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm’s quarterly revenue was down 32.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 earnings per share. Analysts anticipate that Synaptics Incorporated will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on SYNA shares. Craig Hallum lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Friday, February 9th. Susquehanna increased their price objective on Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a report on Friday, February 9th. Needham & Company LLC boosted their target price on Synaptics from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. TD Cowen increased their price target on Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Rosenblatt Securities boosted their price target on Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.36.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.