Bank of New York Mellon Corp Sells 127,020 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Bank of New York Mellon Corp lessened its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 10.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,061,429 shares of the software maker’s stock after selling 127,020 shares during the period. Bank of New York Mellon Corp owned about 2.65% of Synaptics worth $81,008,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Synaptics by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after purchasing an additional 31,565 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Synaptics by 46.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock worth $40,170,000 after buying an additional 165,866 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Synaptics by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after buying an additional 17,119 shares during the period. Emerald Advisers LLC boosted its position in Synaptics by 2.5% during the 3rd quarter. Emerald Advisers LLC now owns 207,287 shares of the software maker’s stock valued at $16,081,000 after acquiring an additional 5,004 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its position in Synaptics by 210.0% during the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after acquiring an additional 138,748 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the transaction, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ken Rizvi purchased 3,600 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Synaptics Stock Up 1.3 %

NASDAQ:SYNA opened at $66.14 on Monday. The company’s 50 day moving average is $77.09 and its two-hundred day moving average is $76.25. The company has a market cap of $2.59 billion, a PE ratio of 15.64 and a beta of 1.45. Synaptics Incorporated has a twelve month low of $64.50 and a twelve month high of $109.00. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Susquehanna increased their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and issued a $105.00 price target on shares of Synaptics in a report on Thursday. TD Cowen boosted their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.88.

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.