456,000 Shares in Synaptics Incorporated $SYNA Purchased by Primecap Management Co. CA

Primecap Management Co. CA bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 456,000 shares of the software maker’s stock, valued at approximately $56,649,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYNA. State Street Corp boosted its stake in shares of Synaptics by 0.5% during the 2nd quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after acquiring an additional 9,335 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Synaptics by 9.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock worth $113,712,000 after acquiring an additional 137,926 shares during the period. William Blair Investment Management LLC purchased a new position in Synaptics in the 2nd quarter valued at approximately $153,998,000. The Manufacturers Life Insurance Company purchased a new position in Synaptics in the 2nd quarter valued at approximately $133,656,000. Finally, Geode Capital Management LLC raised its holdings in Synaptics by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock worth $74,066,000 after purchasing an additional 17,088 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on SYNA shares. Susquehanna decreased their target price on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. TD Cowen cut Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. Rosenblatt Securities cut their price target on Synaptics from $160.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Mizuho boosted their price objective on shares of Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Zacks Research raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.91.

Synaptics Stock Performance

NASDAQ SYNA opened at $95.70 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Synaptics Incorporated has a fifty-two week low of $58.28 and a fifty-two week high of $149.11. The business has a fifty day moving average of $114.91 and a 200-day moving average of $103.68. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -7.57 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. As a group, analysts predict that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Insider Activity at Synaptics

In other news, insider Lisa Bodensteiner sold 6,056 shares of Synaptics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the completion of the sale, the insider directly owned 78,634 shares in the company, valued at $8,148,055.08. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, insider Esther Song sold 437 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider directly owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. This represents a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 15,867 shares of company stock valued at $1,624,996. 0.50% of the stock is owned by insiders.

Synaptics Company Profile

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.