Federated Hermes Inc. Has $1.98 Million Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Federated Hermes Inc. reduced its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 57.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,470 shares of the software maker’s stock after selling 30,453 shares during the period. Federated Hermes Inc.’s holdings in Synaptics were worth $1,982,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after purchasing an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Synaptics in the 2nd quarter valued at approximately $67,000. Register Financial Advisors LLC bought a new position in shares of Synaptics during the 1st quarter worth approximately $76,000. Innealta Capital LLC acquired a new stake in shares of Synaptics in the second quarter valued at approximately $83,000. Finally, nVerses Capital LLC bought a new stake in shares of Synaptics in the second quarter worth $141,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Stock Down 4.0 %

SYNA stock opened at $73.78 on Friday. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The business’s 50 day simple moving average is $79.30 and its 200 day simple moving average is $87.84. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.95 billion, a PE ratio of -27.23 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. As a group, research analysts anticipate that Synaptics Incorporated will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction that occurred on 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 owns 45,789 shares of the company’s stock, valued at $3,663,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 3,135 shares of company stock worth $252,381 over the last three months. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SYNA shares. Craig Hallum decreased their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Needham & Company LLC lowered their target price on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, KeyCorp cut their price objective on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.