Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC cut its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,105 shares of the software maker’s stock after selling 1,010 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Synaptics were worth $771,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in Synaptics during the fourth quarter valued at about $31,000. Quarry LP bought a new position in shares of Synaptics during the 3rd quarter valued at about $31,000. KBC Group NV grew its stake in shares of Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after purchasing an additional 837 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Synaptics in the 3rd quarter worth approximately $227,000. Finally, Cibc World Markets Corp acquired a new stake in Synaptics during the fourth quarter valued at approximately $283,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Performance

SYNA stock opened at $63.06 on Monday. The stock has a market cap of $2.47 billion, a P/E ratio of 14.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The firm has a 50 day simple moving average of $71.25 and a 200 day simple moving average of $74.48. Synaptics Incorporated has a 52 week low of $60.75 and a 52 week high of $99.57.

Analyst Upgrades and Downgrades

SYNA has been the topic of several recent research reports. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 target price on shares of Synaptics in a research report on Thursday, February 27th. Mizuho reduced their target price on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Finally, Susquehanna upped their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Insider Activity

In other news, insider Ken Rizvi purchased 3,600 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the purchase, the insider now directly owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

About Synaptics

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.