3,048 Shares in Synaptics Incorporated (NASDAQ:SYNA) Acquired by MQS Management LLC

MQS Management LLC acquired a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,048 shares of the software maker’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC boosted its stake in Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Synaptics during the 1st quarter worth approximately $76,000. Truist Financial Corp acquired a new stake in Synaptics during the 4th quarter worth approximately $212,000. O Shaughnessy Asset Management LLC raised its holdings in Synaptics by 15.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,219 shares of the software maker’s stock worth $216,000 after buying an additional 301 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Synaptics during the 4th quarter worth approximately $234,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Stock Up 1.7 %

SYNA traded up $1.53 during trading on Friday, reaching $89.02. 17,339 shares of the stock were exchanged, compared to its average volume of 282,693. The stock has a market cap of $3.52 billion, a P/E ratio of -32.28 and a beta of 1.47. Synaptics Incorporated has a twelve month low of $73.38 and a twelve month high of $121.37. The stock’s 50 day moving average price is $91.02 and its two-hundred day moving average price is $96.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.32.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The firm had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $235.17 million. During the same period in the previous year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year. Equities analysts expect that Synaptics Incorporated will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Needham & Company LLC dropped their target price on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 10th. TD Cowen lowered their price objective on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, KeyCorp lowered their price objective on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

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.