Mint Tower Capital Management B.V. Takes Position in Synaptics Incorporated $SYNA

Mint Tower Capital Management B.V. purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,708 shares of the software maker’s stock, valued at approximately $709,000.

Other hedge funds have also bought and sold shares of the company. Glenview Trust Co bought a new stake in Synaptics in the 2nd quarter valued at about $2,085,000. Empowered Funds LLC acquired a new position in shares of Synaptics during the 2nd quarter worth approximately $863,000. Glazer Capital LLC bought a new position in shares of Synaptics during the second quarter worth approximately $10,597,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Synaptics in the second quarter valued at approximately $73,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Synaptics in the second quarter valued at approximately $270,000. 99.43% of the stock is owned by institutional investors.

Synaptics Trading Down 2.6%

NASDAQ SYNA opened at $95.08 on Friday. The firm has a market capitalization of $3.72 billion, a PE ratio of -7.52 and a beta of 1.99. The business’s 50-day moving average price is $113.13 and its two-hundred day moving average price is $103.68. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, analysts expect that Synaptics Incorporated will post 1.98 EPS for the current year.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the transaction, the insider owned 99,191 shares of the company’s stock, valued at $9,372,557.59. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 437 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the sale, the insider owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. The trade was a 2.89% 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. Insiders sold a total of 15,867 shares of company stock worth $1,624,996 over the last three months. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of analyst reports. Mizuho increased their price target on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Susquehanna lowered their price objective 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. Zacks Research raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft cut Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, June 29th. Finally, Craig Hallum set a $105.00 price target on Synaptics in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Synaptics currently has an average rating of “Hold” and a consensus price target of $123.91.

About Synaptics

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.