49,104 Shares of Synaptics Incorporated $SYNA Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the 3rd quarter, Holdings Channel reports. The firm purchased 49,104 shares of the software maker’s stock, valued at approximately $4,979,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SYNA. Ashton Thomas Private Wealth LLC boosted its position in shares of Synaptics by 53.3% in the third quarter. Ashton Thomas Private Wealth LLC now owns 4,200 shares of the software maker’s stock worth $426,000 after acquiring an additional 1,461 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Synaptics by 1.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 8,082 shares of the software maker’s stock worth $819,000 after purchasing an additional 100 shares during the last quarter. D.A. Davidson & CO. increased its position in Synaptics by 12.5% during the third quarter. D.A. Davidson & CO. now owns 12,947 shares of the software maker’s stock worth $1,313,000 after purchasing an additional 1,442 shares during the last quarter. Cardinal Capital Management raised its stake in Synaptics by 2.0% during the third quarter. Cardinal Capital Management now owns 50,701 shares of the software maker’s stock worth $5,141,000 after purchasing an additional 1,016 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Synaptics by 7.5% during the third quarter. State of Alaska Department of Revenue now owns 5,837 shares of the software maker’s stock worth $591,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 99.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lisa Bodensteiner sold 334 shares of Synaptics stock in a transaction on Friday, September 18th. The shares were sold at an average price of $92.63, for a total transaction of $30,938.42. Following the transaction, the insider owned 77,518 shares in the company, valued at approximately $7,180,492.34. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total transaction of $404,133.73. Following the transaction, the insider owned 99,191 shares in the company, valued at $9,372,557.59. The trade was a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,591 shares of company stock worth $1,571,750 over the last ninety days. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Synaptics in a report on Wednesday, November 4th. Wells Fargo & Company downgraded Synaptics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $140.00 to $123.00 in a report on Friday, October 2nd. Rosenblatt Securities increased their target price on Synaptics from $115.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Craig Hallum set a $105.00 target price on Synaptics in a research report on Friday, August 7th. Finally, Zacks Research cut Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $126.40.

Synaptics Stock Up 0.1%

Shares of NASDAQ:SYNA opened at $117.98 on Friday. The stock has a 50-day simple moving average of $109.74 and a 200-day simple moving average of $104.02. The stock has a market capitalization of $4.69 billion, a P/E ratio of -9.39 and a beta of 1.94. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.87 and a current ratio of 1.15.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, November 5th. The software maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The firm had revenue of $294.00 million for the quarter, compared to analyst estimates of $315.56 million. Synaptics had a negative net margin of 40.70% and a positive return on equity of 5.11%. Synaptics’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. Equities analysts forecast that Synaptics Incorporated will post 1.98 earnings per share for the current year.

About Synaptics

Synaptics Incorporated (NASDAQ: SYNA) develops semiconductor products and software that enable people to interact with electronic devices. Its technologies are used in personal computers, mobile devices, automotive systems and Internet of Things (IoT) products. The company’s offerings include touch controllers, touchpads, fingerprint sensors and display drivers, as well as wireless connectivity, audio and video processing, and edge-computing solutions. Synaptics sells primarily to device makers and other technology companies that incorporate its products into consumer and commercial electronics.