Royal Bank of Canada Has $1.75 Million Holdings in Synaptics Incorporated $SYNA

Royal Bank of Canada raised its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 337.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 24,939 shares of the software maker’s stock after purchasing an additional 19,232 shares during the period. Royal Bank of Canada owned approximately 0.06% of Synaptics worth $1,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its holdings in Synaptics by 119.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Leonteq Securities AG purchased a new stake in Synaptics in the 4th quarter valued at about $43,000. Lazard Asset Management LLC purchased a new stake in Synaptics in the 2nd quarter valued at about $54,000. Kemnay Advisory Services Inc. bought a new position in shares of Synaptics during the 4th quarter worth approximately $70,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Synaptics by 21.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the software maker’s stock worth $83,000 after buying an additional 200 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Stock Performance

NASDAQ SYNA opened at $104.83 on Wednesday. The firm has a market cap of $4.10 billion, a P/E ratio of -8.29 and a beta of 1.99. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $119.53 and its 200-day moving average is $103.20. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month high of $149.11.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period last year, the firm earned $1.01 EPS. Synaptics’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts predict that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 692 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $147.50, for a total transaction of $102,070.00. Following the sale, the insider owned 83,434 shares of the company’s stock, valued at approximately $12,306,515. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61. Following the completion of the transaction, the insider owned 12,421 shares of the company’s stock, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,345 shares of company stock worth $1,453,745. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Susquehanna lowered their price target on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Zacks Research raised Synaptics from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.91.

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.