American Century Companies Inc. Sells 866 Shares of Synaptics Incorporated (NASDAQ:SYNA)

American Century Companies Inc. reduced its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,959 shares of the software maker’s stock after selling 866 shares during the quarter. American Century Companies Inc.’s holdings in Synaptics were worth $1,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Synaptics in the 1st quarter valued at approximately $586,000. UBS Group AG grew its position in shares of Synaptics by 26.8% in the 4th quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock valued at $12,031,000 after acquiring an additional 22,308 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after purchasing an additional 75,680 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Synaptics by 34.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after purchasing an additional 100,150 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Synaptics Stock Down 0.2 %

Synaptics stock opened at $78.48 on Monday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -28.96 and a beta of 1.47. Synaptics Incorporated has a 52-week low of $67.83 and a 52-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. The firm has a 50 day moving average price of $77.54 and a two-hundred day moving average price of $86.54.

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 analysts’ consensus estimates 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 analysts’ expectations of $245.17 million. During the same period last year, the business earned $0.01 EPS. Synaptics’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Synaptics Incorporated will post 0.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the transaction, the insider now directly owns 45,789 shares in the company, valued at approximately $3,663,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

About Synaptics

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.