Canada Pension Plan Investment Board Lowers Position in Synaptics Incorporated (NASDAQ:SYNA)

Canada Pension Plan Investment Board trimmed its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 39.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,800 shares of the software maker’s stock after selling 11,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Synaptics were worth $1,482,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Synaptics by 3.4% during the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after purchasing an additional 44,548 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after buying an additional 193,182 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after acquiring an additional 31,643 shares in the last quarter. Victory Capital Management Inc. lifted its position in Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after acquiring an additional 153,434 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Synaptics by 34.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after acquiring an additional 100,150 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

SYNA opened at $78.66 on Friday. The company’s 50-day simple moving average is $77.74 and its two-hundred day simple moving average is $86.98. Synaptics Incorporated has a 52-week low of $67.83 and a 52-week high of $121.37. The stock has a market capitalization of $3.11 billion, a P/E ratio of -29.03 and a beta of 1.47. 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 earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. The company 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 firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. As a group, analysts predict that Synaptics Incorporated will post 0.72 EPS for the current year.

Wall Street Analyst Weigh In

SYNA has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Needham & Company LLC dropped their target price on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, KeyCorp reduced their price objective on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Three equities 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at $3,663,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.