Legal & General Group Plc Makes New $6.58 Million Investment in Synaptics Incorporated $SYNA

Legal & General Group Plc purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 52,971 shares of the software maker’s stock, valued at approximately $6,581,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC acquired a new position in shares of Synaptics in the second quarter worth approximately $25,000. CIBC Private Wealth Group LLC lifted its position in shares of Synaptics by 119.5% in the 4th 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 period. Allworth Financial LP bought a new stake in shares of Synaptics in the 2nd quarter valued at $33,000. Leonteq Securities AG bought a new stake in shares of Synaptics in the 4th quarter valued at $43,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Synaptics during the second quarter worth $54,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Stock Performance

Shares of SYNA opened at $95.99 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. The stock has a 50-day moving average of $110.73 and a 200-day moving average of $103.93. The company has a market cap of $3.75 billion, a PE ratio of -7.59 and a beta of 1.94. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11.

Synaptics (NASDAQ:SYNA) last issued its earnings results 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 during 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 firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. On average, equities research analysts predict that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on SYNA shares. Zacks Research raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Craig Hallum set a $105.00 target price on Synaptics in a research report on Friday, August 7th. Weiss Ratings cut Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price target on Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Barclays restated an “equal weight” rating and set a $135.00 price target (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.91.

Insider Activity

In other news, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $94.49, for a total transaction of $404,133.73. Following the transaction, the insider directly owned 99,191 shares of the company’s stock, valued at $9,372,557.59. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 6,056 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the transaction, the insider 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 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. Insiders sold a total of 15,867 shares of company stock worth $1,624,996 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.