Wajid Ali Sells 859 Shares of Synaptics Inc. (SYNA) Stock
Synaptics Inc. (NASDAQ:SYNA) VP Wajid Ali sold 859 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $56.36, for a total value of $48,413.24. Following the completion of the sale, the vice president now directly owns 21,188 shares of the company’s stock, valued at $1,194,155.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Synaptics Inc. (NASDAQ:SYNA) traded down 1.635% during mid-day trading on Friday, reaching $53.481. The company had a trading volume of 57,986 shares. The firm has a market capitalization of $1.87 billion, a P/E ratio of 38.119 and a beta of 1.39. Synaptics Inc. has a 12 month low of $47.09 and a 12 month high of $91.68. The stock’s 50-day moving average is $60.21 and its 200 day moving average is $58.57.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, October 27th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by $0.03. Synaptics had a net margin of 3.29% and a return on equity of 15.27%. The company had revenue of $386.20 million for the quarter, compared to analysts’ expectations of $372.65 million. During the same period in the prior year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, analysts predict that Synaptics Inc. will post $4.89 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Synaptics by 8.2% in the second quarter. Vanguard Group Inc. now owns 3,468,543 shares of the company’s stock valued at $186,435,000 after buying an additional 263,781 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Synaptics by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 3,322,104 shares of the company’s stock valued at $194,609,000 after buying an additional 153,815 shares during the period. BlackRock Fund Advisors increased its stake in shares of Synaptics by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,941,137 shares of the company’s stock worth $104,336,000 after buying an additional 55,284 shares in the last quarter. State Street Corp boosted its position in shares of Synaptics by 2.1% in the second quarter. State Street Corp now owns 1,295,662 shares of the company’s stock worth $69,640,000 after buying an additional 26,961 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Synaptics by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,070,840 shares of the company’s stock worth $57,558,000 after buying an additional 16,830 shares during the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.
SYNA has been the subject of several research analyst reports. Craig Hallum decreased their price objective on Synaptics from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective (down from $88.00) on shares of Synaptics in a report on Friday, July 29th. TheStreet downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Zacks Investment Research raised Synaptics from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Thursday, August 4th. Finally, Pacific Crest reaffirmed a “sector perform” rating on shares of Synaptics in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $73.08.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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