First Mercantile Trust Co. Decreases Holdings in Synaptics Incorporated (NASDAQ:SYNA)

First Mercantile Trust Co. trimmed its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 18.3% in the second quarter, Holdings Channel reports. The firm owned 1,294 shares of the software maker’s stock after selling 289 shares during the period. First Mercantile Trust Co.’s holdings in Synaptics were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. raised its stake in shares of Synaptics by 23.6% in the 2nd quarter. Alliancebernstein L.P. now owns 1,825,482 shares of the software maker’s stock valued at $284,008,000 after purchasing an additional 348,222 shares in the last quarter. Ophir Asset Management Pty Ltd grew its position in Synaptics by 141.7% in the 2nd quarter. Ophir Asset Management Pty Ltd now owns 52,469 shares of the software maker’s stock worth $8,163,000 after purchasing an additional 30,757 shares during the last quarter. Securian Asset Management Inc grew its position in Synaptics by 3.1% in the 1st quarter. Securian Asset Management Inc now owns 3,314 shares of the software maker’s stock worth $449,000 after purchasing an additional 100 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Synaptics by 54.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 12,660 shares of the software maker’s stock worth $1,714,000 after purchasing an additional 4,444 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of Synaptics by 11.3% in the first quarter. Truvestments Capital LLC now owns 4,632 shares of the software maker’s stock valued at $627,000 after acquiring an additional 469 shares in the last quarter. 92.47% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SYNA opened at $183.80 on Wednesday. The company has a fifty day simple moving average of $165.73 and a 200 day simple moving average of $146.46. Synaptics Incorporated has a 12-month low of $74.47 and a 12-month high of $191.99. The company has a current ratio of 1.50, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.19 billion, a P/E ratio of 87.11, a PEG ratio of 2.14 and a beta of 1.27.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 5th. The software maker reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.18. Synaptics had a return on equity of 25.78% and a net margin of 5.94%. During the same quarter in the previous year, the business posted $1.24 EPS. Sell-side analysts predict that Synaptics Incorporated will post 8.49 EPS for the current year.

In related news, SVP John Mcfarland sold 5,382 shares of the company’s stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $188.43, for a total transaction of $1,014,130.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Saleel Awsare sold 4,858 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $189.34, for a total value of $919,813.72. The disclosure for this sale can be found here. Insiders have sold a total of 17,295 shares of company stock valued at $3,176,044 in the last ninety days. Insiders own 0.85% of the company’s stock.

A number of brokerages recently weighed in on SYNA. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Synaptics in a report on Tuesday, August 31st. TheStreet upgraded shares of Synaptics from a “c+” rating to a “b-” rating in a research report on Thursday, August 5th. Cowen increased their target price on shares of Synaptics from $176.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 31st. Susquehanna raised their price target on shares of Synaptics from $150.00 to $180.00 and gave the company a “positive” rating in a report on Friday, August 6th. Finally, Mizuho raised their price target on shares of Synaptics from $178.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Synaptics currently has an average rating of “Buy” and a consensus target price of $186.69.

About Synaptics

Synaptics, Inc engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.

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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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