Amalgamated Bank Cuts Position in Synaptics Incorporated (NASDAQ:SYNA)

Amalgamated Bank trimmed its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,188 shares of the software maker’s stock after selling 1,405 shares during the period. Amalgamated Bank’s holdings in Synaptics were worth $1,692,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its stake in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after buying an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics in the 2nd quarter worth about $67,000. Register Financial Advisors LLC bought a new position in Synaptics in the 1st quarter worth about $76,000. Innealta Capital LLC bought a new position in Synaptics in the 2nd quarter worth about $83,000. Finally, nVerses Capital LLC purchased a new stake in Synaptics during the 2nd quarter valued at about $141,000. 99.43% of the stock is owned by institutional investors.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,870 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the completion of the sale, the insider now directly owns 46,797 shares in the company, valued at approximately $3,743,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

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

Synaptics Stock Down 1.6 %

SYNA stock opened at $72.30 on Thursday. The business’s 50-day moving average is $77.99 and its two-hundred day moving average is $87.04. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -26.68 and a beta of 1.47. Synaptics Incorporated has a fifty-two week low of $67.83 and a fifty-two week high of $121.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19.

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

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.