Ieq Capital LLC Makes New Investment in Synaptics Incorporated $SYNA

Ieq Capital LLC bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, HoldingsChannel reports. The fund bought 7,082 shares of the software maker’s stock, valued at approximately $880,000.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp raised its stake in shares of Synaptics by 0.5% during the 2nd quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after buying an additional 9,335 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in Synaptics by 9.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock valued at $113,712,000 after acquiring an additional 137,926 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Synaptics by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock valued at $74,066,000 after purchasing an additional 17,088 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Synaptics by 2,384.4% in the first quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker’s stock valued at $65,780,000 after purchasing an additional 901,379 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Synaptics by 469.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock valued at $60,304,000 after purchasing an additional 671,647 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total value of $443,311.05. Following the transaction, the insider owned 103,468 shares in the company, valued at $10,724,458.20. This trade represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lisa Bodensteiner sold 6,056 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the sale, the insider directly owned 78,634 shares of the company’s stock, valued at $8,148,055.08. This represents a 7.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 15,867 shares of company stock valued at $1,624,996. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Weiss Ratings downgraded Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Susquehanna reduced their price objective on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Zacks Research raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Wells Fargo & Company dropped their price objective on Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.91.

Synaptics Stock Up 2.0%

Shares of NASDAQ:SYNA opened at $97.59 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -7.71 and a beta of 1.99. The stock’s 50-day moving average price is $114.05 and its two-hundred day moving average price is $103.74. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month high of $149.11.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. On average, research analysts forecast that Synaptics Incorporated will post 1.98 EPS for the current year.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.