Bank of Montreal Can Reduces Position in Synaptics Incorporated (NASDAQ:SYNA)

Bank of Montreal Can lessened its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 38.3% during the 2nd quarter, Holdings Channel reports. The firm owned 25,516 shares of the software maker’s stock after selling 15,832 shares during the quarter. Bank of Montreal Can’s holdings in Synaptics were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of SYNA. CWM LLC grew its position 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 last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics in the 2nd quarter valued at $67,000. Register Financial Advisors LLC purchased a new stake in shares of Synaptics in the 1st quarter valued at $76,000. Innealta Capital LLC purchased a new stake in shares of Synaptics in the 2nd quarter valued at $83,000. Finally, nVerses Capital LLC purchased a new stake in shares of Synaptics in the 2nd quarter valued at $141,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Performance

NASDAQ:SYNA opened at $75.40 on Friday. 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 company has a fifty day moving average of $76.70 and a two-hundred day moving average of $86.16. The stock has a market capitalization of $3.01 billion, a PE ratio of -27.82 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.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $247.40 million during 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 revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, research analysts forecast that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Vikram Gupta sold 1,870 shares of the stock in a transaction dated Friday, August 23rd. The shares were 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 $3,743,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 5,609 shares of company stock worth $448,720 over the last three months. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.