Vanguard Group Inc. Raises Stake in Synaptics Incorporated (NASDAQ:SYNA)

Vanguard Group Inc. grew its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 1.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,907,880 shares of the software maker’s stock after acquiring an additional 93,155 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Synaptics worth $374,569,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SYNA. Quarry LP purchased a new stake in Synaptics during the 3rd quarter valued at approximately $31,000. KBC Group NV raised its stake in shares of Synaptics by 87.4% during the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after purchasing an additional 837 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Synaptics during the third quarter worth $227,000. Cibc World Markets Corp purchased a new position in Synaptics in the 4th quarter valued at $283,000. Finally, Raymond James Financial Inc. acquired a new position in Synaptics in the 4th quarter valued at $371,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Stock Up 0.8 %

SYNA opened at $63.67 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 15.05 and a beta of 1.60. Synaptics Incorporated has a one year low of $60.75 and a one year high of $98.00. The business’s fifty day moving average is $70.02 and its two-hundred day moving average is $74.27.

Insider Buying and Selling

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the business’s stock in a transaction on Monday, February 10th. The stock was bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Mizuho lowered their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Susquehanna increased their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

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.