16,780 Shares in Synaptics Incorporated $SYNA Acquired by Glenview Trust Co

Glenview Trust Co purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,780 shares of the software maker’s stock, valued at approximately $2,085,000.

Other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in shares of Synaptics during the 2nd quarter valued at $153,998,000. The Manufacturers Life Insurance Company purchased a new position in shares of Synaptics in the 2nd quarter worth $133,656,000. Price T Rowe Associates Inc. MD raised its position in shares of Synaptics by 469.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock worth $60,304,000 after buying an additional 671,647 shares during the period. Primecap Management Co. CA acquired a new position in Synaptics in the second quarter valued at $56,649,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Synaptics during the second quarter valued at about $47,394,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lisa Bodensteiner sold 6,056 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the completion of the sale, the insider owned 78,634 shares of the company’s stock, valued at $8,148,055.08. This represents a 7.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the transaction, the insider directly owned 99,191 shares in the company, valued at $9,372,557.59. This represents a 4.13% decrease in their position. 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. Over the last three months, insiders have sold 15,867 shares of company stock valued at $1,624,996. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

SYNA has been the topic of a number of research reports. Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Barclays reiterated an “equal weight” rating and set a $135.00 target price (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. Susquehanna dropped their target price on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, TD Cowen cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Synaptics currently has a consensus rating of “Hold” and an average price target of $123.91.

Synaptics Stock Down 2.6%

NASDAQ:SYNA opened at $95.08 on Friday. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -7.52 and a beta of 1.99. The stock has a 50-day simple moving average of $113.13 and a 200 day simple moving average of $103.68.

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