Covestor Ltd increased its holdings in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 180.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 639 shares of the software maker’s stock after acquiring an additional 411 shares during the period. Covestor Ltd’s holdings in Synaptics were worth $57,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. boosted its stake in Synaptics by 10.1% during the third quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after buying an additional 9,141 shares during the period. Eisler Capital US LLC purchased a new position in shares of Synaptics during the 3rd quarter worth approximately $394,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Synaptics by 85.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 57,000 shares of the software maker’s stock valued at $5,098,000 after purchasing an additional 26,205 shares during the last quarter. Mariner LLC raised its position in Synaptics by 14.2% in the third quarter. Mariner LLC now owns 3,099 shares of the software maker’s stock valued at $277,000 after purchasing an additional 386 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Synaptics by 290.7% during the third quarter. Hsbc Holdings PLC now owns 12,038 shares of the software maker’s stock worth $1,069,000 after purchasing an additional 8,957 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Craig Hallum lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research note on Friday, February 9th. Mizuho reduced their price target on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Rosenblatt Securities lifted their price objective on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. started coverage on shares of Synaptics in a report on Friday, December 8th. They set an “overweight” rating and a $130.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.36.
Synaptics Trading Down 2.7 %
NASDAQ SYNA opened at $101.53 on Wednesday. Synaptics Incorporated has a 52 week low of $67.73 and a 52 week high of $121.37. The firm has a 50 day moving average of $108.92 and a two-hundred day moving average of $98.63. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.99 billion, a PE ratio of -51.02 and a beta of 1.61.
Synaptics (NASDAQ:SYNA – Get Free Report) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm had revenue of $237.00 million during the quarter, compared to the consensus estimate of $235.26 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The company’s revenue was down 32.9% compared to the same quarter last year. As a group, research analysts expect that Synaptics Incorporated will post -0.48 EPS for the current fiscal year.
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.
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