Insider Selling: Synaptics (NASDAQ:SYNA) Insider Sells $443,311.05 in Stock

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the sale, the insider owned 103,468 shares in the company, valued at approximately $10,724,458.20. This represents a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

Vikram Gupta also recently made the following trade(s):

• On Monday, July 27th, Vikram Gupta sold 360 shares of Synaptics stock. The shares were sold at an average price of $114.20, for a total transaction of $41,112.00.
• On Tuesday, May 26th, Vikram Gupta sold 692 shares of Synaptics stock. The stock was sold at an average price of $147.50, for a total transaction of $102,070.00.

Synaptics Price Performance

Shares of SYNA opened at $97.66 on Friday. 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 company’s fifty day simple moving average is $117.40 and its 200 day simple moving average is $103.37. Synaptics Incorporated has a 1-year low of $58.28 and a 1-year high of $149.11. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -7.72 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter last year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYNA has been the subject of several recent analyst reports. Susquehanna cut their target price on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. Craig Hallum set a $105.00 target price on Synaptics in a research note on Friday, August 7th. Finally, Needham & Company LLC downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $123.91.

Hedge Funds Weigh In On Synaptics

A number of large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in Synaptics in the 1st quarter valued at $784,000. Intech Investment Management LLC increased its position in Synaptics by 186.4% during the 4th quarter. Intech Investment Management LLC now owns 70,287 shares of the software maker’s stock worth $5,203,000 after buying an additional 45,746 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Synaptics during the second quarter worth $1,428,000. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 17,088 shares in the last quarter. Finally, Trigran Investments Inc. boosted its position in shares of Synaptics by 4.7% in the fourth quarter. Trigran Investments Inc. now owns 692,587 shares of the software maker’s stock valued at $51,265,000 after acquiring an additional 31,150 shares during the period. Institutional investors own 99.43% of the company’s stock.

About Synaptics

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.