Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Point72 Asia Singapore Pte. Ltd. trimmed its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 23.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,248 shares of the software maker’s stock after selling 375 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Synaptics were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SYNA. Quantbot Technologies LP purchased a new position in shares of Synaptics during the 1st quarter worth about $586,000. CANADA LIFE ASSURANCE Co lifted its stake in Synaptics by 27.8% in the first 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. Point72 Asset Management L.P. boosted its position in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Synaptics by 34.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after buying an additional 100,150 shares during the period. Institutional investors own 99.43% of the company’s stock.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,870 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was 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 owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

SYNA has been the subject of a number of recent analyst reports. KeyCorp dropped 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. Needham & Company LLC cut their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Craig Hallum decreased their price objective 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. JPMorgan Chase & Co. lowered 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. Finally, TD Cowen reduced their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.44.

Synaptics Stock Performance

Shares of Synaptics stock opened at $75.40 on Friday. The company has a market capitalization of $3.01 billion, a PE ratio of -27.82 and a beta of 1.47. The company has a 50-day simple moving average of $76.70 and a two-hundred day simple moving average of $86.16. Synaptics Incorporated has a one year low of $67.83 and a one year 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.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. Research analysts expect that Synaptics Incorporated will post 0.72 EPS for the current fiscal year.

Synaptics 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.