Ieq Capital LLC Invests $880,000 in Synaptics Incorporated $SYNA

Ieq Capital LLC purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,082 shares of the software maker’s stock, valued at approximately $880,000.

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in Synaptics by 2,384.4% during the first quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker’s stock worth $65,780,000 after acquiring an additional 901,379 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Synaptics by 469.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock worth $60,304,000 after purchasing an additional 671,647 shares during the period. AQR Capital Management LLC grew its holdings in shares of Synaptics by 186.2% during the 2nd quarter. AQR Capital Management LLC now owns 443,441 shares of the software maker’s stock worth $28,744,000 after purchasing an additional 288,523 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Synaptics during the 2nd quarter worth about $35,039,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Synaptics during the 4th quarter worth about $15,670,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Craig Hallum set a $105.00 target price on shares of Synaptics in a research report on Friday, August 7th. Needham & Company LLC cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Deutsche Bank Aktiengesellschaft cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Monday, June 29th. Finally, Wells Fargo & Company dropped their target price on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $123.91.

Insider Transactions at Synaptics

In other Synaptics news, insider Vikram Gupta sold 4,277 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total transaction of $443,311.05. Following the completion of the transaction, the insider owned 103,468 shares in the company, valued at $10,724,458.20. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Lisa Bodensteiner sold 6,056 shares of the stock in a transaction that occurred on 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 approximately $8,148,055.08. This represents a 7.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 15,867 shares of company stock valued at $1,624,996. 0.50% of the stock is currently owned by corporate insiders.

Synaptics Stock Up 2.0%

Synaptics stock opened at $97.59 on Friday. The firm has a market capitalization of $3.82 billion, a P/E ratio of -7.71 and a beta of 1.99. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11. The stock’s fifty day simple moving average is $114.05 and its 200-day simple moving average is $103.74.

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

Synaptics 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.