Engineers Gate Manager LP Trims Position in Synaptics, Incorporated (SYNA)
Engineers Gate Manager LP reduced its position in Synaptics, Incorporated (NASDAQ:SYNA) by 34.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,827 shares of the software maker’s stock after selling 6,610 shares during the quarter. Engineers Gate Manager LP’s holdings in Synaptics were worth $585,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Synaptics by 38.0% in the third quarter. Victory Capital Management Inc. now owns 800,063 shares of the software maker’s stock valued at $36,499,000 after acquiring an additional 220,152 shares during the last quarter. CLARET ASSET MANAGEMENT Corp boosted its holdings in Synaptics by 3.4% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 97,822 shares of the software maker’s stock worth $4,463,000 after buying an additional 3,171 shares during the last quarter. Smith Graham & Co. Investment Advisors LP boosted its holdings in Synaptics by 5.1% during the third quarter. Smith Graham & Co. Investment Advisors LP now owns 260,505 shares of the software maker’s stock worth $11,884,000 after buying an additional 12,660 shares during the last quarter. CWM LLC boosted its holdings in Synaptics by 32.0% during the third quarter. CWM LLC now owns 172,971 shares of the software maker’s stock worth $7,891,000 after buying an additional 41,899 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Synaptics by 13.1% during the third quarter. Retirement Systems of Alabama now owns 180,700 shares of the software maker’s stock worth $8,244,000 after buying an additional 20,879 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Kevin D. Barber sold 12,865 shares of Synaptics stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $34.69, for a total transaction of $446,286.85. Following the transaction, the insider now owns 14,001 shares in the company, valued at approximately $485,694.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, November 8th. The software maker reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.10. Synaptics had a positive return on equity of 12.96% and a negative net margin of 5.75%. The business had revenue of $417.60 million for the quarter, compared to analysts’ expectations of $410.60 million. During the same quarter in the previous year, the business posted $1.03 EPS. Synaptics’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities analysts expect that Synaptics, Incorporated will post 2.9 EPS for the current fiscal year.
A number of equities analysts have issued reports on the company. ValuEngine cut Synaptics from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Craig Hallum reduced their target price on Synaptics from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, November 9th. TheStreet cut Synaptics from a “c-” rating to a “d+” rating in a report on Friday, October 19th. Lake Street Capital restated a “hold” rating and set a $52.00 target price on shares of Synaptics in a report on Friday, August 10th. Finally, Zacks Investment Research cut Synaptics from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Synaptics has an average rating of “Hold” and a consensus price target of $53.50.
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Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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