Synaptics Incorporated (NASDAQ:SYNA) Position Boosted by Swiss National Bank

Swiss National Bank lifted its stake in Synaptics Incorporated (NASDAQ:SYNA) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 78,500 shares of the software maker’s stock after acquiring an additional 1,100 shares during the quarter. Swiss National Bank’s holdings in Synaptics were worth $5,991,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Quarry LP acquired a new position in Synaptics in the 3rd quarter valued at approximately $31,000. KBC Group NV grew its holdings in shares of Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after acquiring an additional 837 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Synaptics in the third quarter worth $227,000. Meridian Wealth Management LLC purchased a new stake in shares of Synaptics during the third quarter worth $266,000. Finally, Raymond James Financial Inc. acquired a new stake in Synaptics during the fourth quarter valued at $371,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYNA shares. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Susquehanna increased their price target on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.88.

Insiders Place Their Bets

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Synaptics Price Performance

NASDAQ SYNA opened at $64.10 on Monday. Synaptics Incorporated has a 1 year low of $60.75 and a 1 year high of $99.99. The company has a fifty day simple moving average of $72.74 and a 200 day simple moving average of $74.75. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.51 billion, a P/E ratio of 15.15 and a beta of 1.55.

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.