Aristeia Capital L.L.C. Purchases Shares of 3,609 Synaptics Incorporated (NASDAQ:SYNA)

Aristeia Capital L.L.C. acquired a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,609 shares of the software maker’s stock, valued at approximately $318,000.

A number of other large investors have also modified their holdings of SYNA. CWM LLC increased its holdings in Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics during the second quarter worth approximately $67,000. Register Financial Advisors LLC acquired a new stake in Synaptics in the first quarter valued at approximately $76,000. Innealta Capital LLC acquired a new stake in Synaptics in the second quarter valued at approximately $83,000. Finally, nVerses Capital LLC purchased a new position in Synaptics in the second quarter worth approximately $141,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYNA. KeyCorp decreased their price objective on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. TD Cowen dropped their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Needham & Company LLC decreased their target price on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Craig Hallum lowered their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.44.

Synaptics Price Performance

Shares of Synaptics stock opened at $73.51 on Wednesday. The company’s fifty day moving average is $78.44 and its two-hundred day moving average is $87.15. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Vikram Gupta sold 1,870 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $149,600.00. Following the sale, the insider now owns 46,797 shares of the company’s stock, valued at $3,743,760. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 3,135 shares of company stock worth $252,381 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

Synaptics Company 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.