Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,500 shares of the software maker’s stock after selling 4,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.13% of Synaptics worth $5,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SYNA. Victory Capital Management Inc. boosted its holdings in Synaptics by 1,255.2% in the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock worth $44,991,000 after purchasing an additional 365,282 shares during the last quarter. Norges Bank purchased a new stake in Synaptics in the fourth quarter worth approximately $40,261,000. FMR LLC boosted its holdings in Synaptics by 39.3% in the third quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock worth $100,579,000 after purchasing an additional 317,307 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Synaptics by 49.1% in the third quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock worth $39,172,000 after purchasing an additional 144,252 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after purchasing an additional 116,276 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYNA. KeyCorp dropped their target price on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. TD Cowen dropped their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company dropped their price target on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, Needham & Company LLC dropped their price target on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and an average target price of $117.67.

Synaptics Price Performance

Shares of SYNA stock opened at $92.05 on Tuesday. Synaptics Incorporated has a one year low of $73.38 and a one year high of $121.37. The company’s fifty day moving average price is $90.56 and its 200-day moving average price is $100.45. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.32.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The company’s revenue was down 27.3% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. As a group, equities research analysts anticipate that Synaptics Incorporated will post -0.36 EPS for the current year.

Synaptics Profile

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.