Russell Investments Group Ltd. Has $12.05 Million Position in Synaptics Incorporated (SYNA)
Russell Investments Group Ltd. increased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 20.3% during the second quarter, Holdings Channel reports. The institutional investor owned 232,991 shares of the software maker’s stock after buying an additional 39,364 shares during the period. Russell Investments Group Ltd.’s holdings in Synaptics were worth $12,048,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of SYNA. First Midwest Bank Trust Division boosted its stake in shares of Synaptics by 2.4% in the second quarter. First Midwest Bank Trust Division now owns 18,243 shares of the software maker’s stock valued at $943,000 after buying an additional 427 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Synaptics during the second quarter valued at $6,369,000. Profit Investment Management LLC boosted its stake in Synaptics by 23.4% in the second quarter. Profit Investment Management LLC now owns 24,630 shares of the software maker’s stock valued at $1,274,000 after buying an additional 4,666 shares during the period. Aperio Group LLC boosted its stake in Synaptics by 1.2% in the second quarter. Aperio Group LLC now owns 7,042 shares of the software maker’s stock valued at $364,000 after buying an additional 84 shares during the period. Finally, West Coast Financial LLC boosted its stake in Synaptics by 2.9% in the second quarter. West Coast Financial LLC now owns 89,877 shares of the software maker’s stock valued at $4,648,000 after buying an additional 2,573 shares during the period. Institutional investors own 93.01% of the company’s stock.
Shares of Synaptics Incorporated (NASDAQ SYNA) traded up 1.56% on Friday, hitting $40.90. The stock had a trading volume of 1,527,853 shares. The company has a market cap of $1.42 billion, a P/E ratio of 29.85 and a beta of 1.13. The company has a 50-day moving average of $51.80 and a 200-day moving average of $53.47. Synaptics Incorporated has a 52-week low of $39.89 and a 52-week high of $69.45.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data 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 during 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 revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that Synaptics Incorporated will post $4.60 EPS for the current fiscal year.
Several research firms have weighed in on SYNA. BMO Capital Markets dropped their price objective on Synaptics from $56.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, August 4th. BidaskClub cut Synaptics from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective (down previously from $65.00) on shares of Synaptics in a report on Friday, August 4th. Cowen and Company set a $75.00 price objective on Synaptics and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. reiterated an “underperform” rating and issued a $45.00 price objective (down previously from $48.00) on shares of Synaptics in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock 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 business’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 value of $556,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $55.92, for a total transaction of $524,250.00. Following the completion of the transaction, the director now directly owns 16,166 shares of the company’s stock, valued at approximately $904,002.72. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
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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