K2 Principal Fund L.P. Invests $696,000 in Synaptics Incorporated $SYNA

K2 Principal Fund L.P. bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the second quarter, HoldingsChannel reports. The fund bought 5,600 shares of the software maker’s stock, valued at approximately $696,000.

Several other large investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Synaptics by 0.5% during the 2nd quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after purchasing an additional 9,335 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in shares of Synaptics by 9.9% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock valued at $113,712,000 after buying an additional 137,926 shares during the last quarter. Geode Capital Management LLC boosted its position in Synaptics by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock worth $74,066,000 after purchasing an additional 17,088 shares during the period. The Manufacturers Life Insurance Company grew its stake in Synaptics by 2,384.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker’s stock valued at $65,780,000 after buying an additional 901,379 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Synaptics by 469.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock worth $60,304,000 after purchasing an additional 671,647 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 692 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $147.50, for a total transaction of $102,070.00. Following the transaction, the insider directly owned 83,434 shares in the company, valued at approximately $12,306,515. This trade represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 334 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $138.28, for a total transaction of $46,185.52. Following the transaction, the insider directly owned 61,989 shares in the company, valued at $8,571,838.92. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 10,345 shares of company stock worth $1,453,745. Corporate insiders own 0.50% of the company’s stock.

Synaptics Price Performance

Shares of NASDAQ SYNA opened at $104.83 on Wednesday. The firm’s 50-day moving average price is $119.53 and its 200-day moving average price is $103.20. Synaptics Incorporated has a 1-year low of $58.28 and a 1-year high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $4.10 billion, a P/E ratio of -8.29 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. During the same period in the prior year, the firm earned $1.01 earnings per share. Synaptics’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Susquehanna reduced their price target on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. raised their target price on shares of Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. TD Cowen lowered Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings cut shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Barclays reissued an “equal weight” rating and set a $135.00 target price (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Synaptics presently has a consensus rating of “Hold” and an average target price of $123.91.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.