Peregrine Capital Management LLC Lowers Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Peregrine Capital Management LLC decreased its stake in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,283 shares of the software maker’s stock after selling 2,174 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.18% of Synaptics worth $6,878,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raymond James & Associates raised its holdings in Synaptics by 48.6% in the 1st quarter. Raymond James & Associates now owns 4,571 shares of the software maker’s stock worth $912,000 after purchasing an additional 1,495 shares during the period. PNC Financial Services Group Inc. raised its holdings in Synaptics by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock worth $270,000 after purchasing an additional 128 shares during the period. Bank of Montreal Can raised its holdings in Synaptics by 27.5% in the 1st quarter. Bank of Montreal Can now owns 3,829 shares of the software maker’s stock worth $809,000 after purchasing an additional 826 shares during the period. Great West Life Assurance Co. Can raised its holdings in Synaptics by 10.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 22,202 shares of the software maker’s stock worth $4,558,000 after purchasing an additional 2,052 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in Synaptics by 114.0% in the 1st quarter. Vontobel Holding Ltd. now owns 5,372 shares of the software maker’s stock worth $1,072,000 after purchasing an additional 2,862 shares during the period. Hedge funds and other institutional investors own 90.40% of the company’s stock.

Insider Transactions at Synaptics

In related news, insider Saleel Awsare sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $115.28, for a total transaction of $576,400.00. Following the transaction, the insider now owns 33,755 shares of the company’s stock, valued at $3,891,276.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Saleel Awsare sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $115.28, for a total transaction of $576,400.00. Following the transaction, the insider now owns 33,755 shares of the company’s stock, valued at $3,891,276.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dean Warren Butler sold 1,350 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $119.36, for a total value of $161,136.00. Following the transaction, the insider now directly owns 34,396 shares in the company, valued at approximately $4,105,506.56. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SYNA shares. Cowen increased their price objective on Synaptics from $100.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Wells Fargo & Company raised their price target on Synaptics from $90.00 to $115.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. KeyCorp raised their price target on Synaptics from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. StockNews.com initiated coverage on Synaptics in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Craig Hallum raised their price target on Synaptics from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.18.

Synaptics Stock Down 1.9 %

SYNA opened at $105.85 on Friday. The business’s 50-day simple moving average is $118.18 and its 200-day simple moving average is $105.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.83 and a current ratio of 4.42. Synaptics Incorporated has a one year low of $81.13 and a one year high of $239.88. The stock has a market capitalization of $4.17 billion, a P/E ratio of 18.34 and a beta of 1.57.

Synaptics Profile

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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.