Legal & General Group Plc Invests $6.58 Million in Synaptics Incorporated $SYNA

Legal & General Group Plc bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 52,971 shares of the software maker’s stock, valued at approximately $6,581,000. Legal & General Group Plc owned 0.14% of Synaptics as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $133,656,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Synaptics during the second quarter valued at approximately $47,394,000. Twin Tree Management LP bought a new stake in Synaptics during the second quarter worth $374,000. William Blair Investment Management LLC bought a new stake in Synaptics during the second quarter worth $153,998,000. Finally, Ieq Capital LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at $880,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Stock Up 0.9%

Shares of SYNA opened at $95.99 on Thursday. Synaptics Incorporated has a 52 week low of $58.28 and a 52 week high of $149.11. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -7.59 and a beta of 1.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. The stock has a fifty day moving average of $110.73 and a 200-day moving average of $103.93.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data 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 business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. During the same quarter in the previous year, the company posted $1.01 EPS. Synaptics’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Lisa Bodensteiner sold 6,056 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total transaction of $627,522.72. Following the sale, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Also, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total value of $404,133.73. Following the completion of the transaction, the insider directly owned 99,191 shares of the company’s stock, valued at $9,372,557.59. This represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 15,867 shares of company stock valued at $1,624,996. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SYNA shares. Mizuho lifted their price target on Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. Susquehanna decreased their target price on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Weiss Ratings downgraded Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Synaptics presently has a consensus rating of “Hold” and a consensus target price of $123.91.

Synaptics 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.