Synaptics Incorporated (SYNA) Stake Boosted by Principal Financial Group Inc.
Principal Financial Group Inc. raised its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,610 shares of the software maker’s stock after buying an additional 5,597 shares during the period. Principal Financial Group Inc. owned about 0.43% of Synaptics worth $7,259,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. TrimTabs Asset Management LLC increased its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares during the period. Edge Wealth Management LLC increased its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock valued at $110,000 after buying an additional 2,075 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Synaptics by 47.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,295 shares of the software maker’s stock valued at $165,000 after buying an additional 1,063 shares during the period. Advisory Services Network LLC bought a new stake in shares of Synaptics during the first quarter valued at approximately $220,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Synaptics by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,167 shares of the software maker’s stock valued at $277,000 after buying an additional 18 shares during the period. 93.01% of the stock is currently owned by institutional investors.
Synaptics Incorporated (NASDAQ SYNA) traded down 0.97% during midday trading on Monday, reaching $44.88. The company’s stock had a trading volume of 1,607,358 shares. The firm has a market cap of $1.54 billion, a P/E ratio of 67.59 and a beta of 1.13. The firm has a 50 day moving average price of $54.09 and a 200 day moving average price of $54.00. Synaptics Incorporated has a one year low of $43.87 and a one year high of $69.45.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $426.50 million for the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. Synaptics’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Equities research analysts forecast that Synaptics Incorporated will post $4.71 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on SYNA shares. Needham & Company LLC upped their target price on Synaptics from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 28th. Vetr raised Synaptics from a “hold” rating to a “buy” rating and set a $57.50 target price for the company in a report on Wednesday, May 17th. BidaskClub raised Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Synaptics in a report on Friday, July 28th. Finally, Cowen and Company set a $75.00 price objective on Synaptics and gave the company a “buy” rating in a report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.43.
In related news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $55.61, for a total transaction of $556,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Wajid Ali sold 555 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $56.75, for a total transaction of $31,496.25. Following the transaction, the vice president now owns 15,900 shares of the company’s stock, valued at approximately $902,325. The disclosure for this sale can be found here. Insiders sold a total of 19,930 shares of company stock worth $1,111,846 over the last three months. Insiders own 3.60% of the company’s stock.
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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