49,104 Shares in Synaptics Incorporated $SYNA Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) in the third quarter, according to its most recent filing with the SEC. The firm purchased 49,104 shares of the software maker’s stock, valued at approximately $4,979,000. New York Life Investment Management LLC owned 0.12% of Synaptics at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ABS Investment Management LLC acquired a new stake in shares of Synaptics in the 2nd quarter worth approximately $310,575,000. CoreCap Advisors LLC acquired a new position in Synaptics during the second quarter worth $25,000. Allworth Financial LP acquired a new position in Synaptics during the second quarter worth $33,000. Global Retirement Partners LLC acquired a new position in Synaptics during the second quarter worth $61,000. Finally, State of Wyoming purchased a new stake in Synaptics during the second quarter worth $65,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SYNA has been the topic of several research reports. Rosenblatt Securities upped their target price on Synaptics from $115.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Wells Fargo & Company downgraded Synaptics from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $140.00 to $123.00 in a research note on Friday, October 2nd. Craig Hallum set a $105.00 price objective on shares of Synaptics in a research report on Friday, August 7th. Susquehanna lowered their price objective on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Finally, Zacks Research cut shares of Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.40.

Synaptics Price Performance

NASDAQ:SYNA opened at $117.98 on Friday. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month high of $149.11. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -9.39 and a beta of 1.94. The company’s 50-day moving average is $109.74 and its two-hundred day moving average is $104.02. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.43.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 5th. The software maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $294.00 million during the quarter, compared to the consensus estimate of $315.56 million. Synaptics had a negative net margin of 40.70% and a positive return on equity of 5.11%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. Research analysts expect that Synaptics Incorporated will post 1.98 EPS for the current year.

Insider Buying and Selling

In other Synaptics news, insider Esther Song sold 437 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the completion of the transaction, the insider directly owned 14,683 shares in the company, valued at approximately $1,522,333.44. The trade was a 2.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Lisa Bodensteiner sold 334 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $92.63, for a total value of $30,938.42. Following the completion of the transaction, the insider owned 77,518 shares of the company’s stock, valued at $7,180,492.34. This trade represents a 0.43% 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. Over the last 90 days, insiders have sold 15,591 shares of company stock worth $1,571,750. 0.70% of the stock is owned by insiders.

Synaptics Profile

Synaptics Incorporated (NASDAQ: SYNA) develops semiconductor products and software that enable people to interact with electronic devices. Its technologies are used in personal computers, mobile devices, automotive systems and Internet of Things (IoT) products. The company’s offerings include touch controllers, touchpads, fingerprint sensors and display drivers, as well as wireless connectivity, audio and video processing, and edge-computing solutions. Synaptics sells primarily to device makers and other technology companies that incorporate its products into consumer and commercial electronics.