The Manufacturers Life Insurance Company Invests $133.66 Million in Synaptics Incorporated $SYNA

The Manufacturers Life Insurance Company acquired a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,075,878 shares of the software maker’s stock, valued at approximately $133,656,000.

A number of other large investors have also modified their holdings of SYNA. State Street Corp increased its holdings in Synaptics by 0.5% in the 2nd quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock valued at $132,181,000 after buying an additional 9,335 shares during the period. Orbis Allan Gray Ltd lifted its holdings in shares of Synaptics by 9.9% during 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 acquired a new stake in shares of Synaptics during the 2nd quarter valued at about $153,998,000. Geode Capital Management LLC boosted its position in shares of Synaptics by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock valued at $74,066,000 after acquiring an additional 17,088 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Synaptics by 469.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock valued at $60,304,000 after acquiring an additional 671,647 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Synaptics news, insider Lisa Bodensteiner sold 6,056 shares of the 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 sale, the insider owned 78,634 shares of the company’s stock, valued at $8,148,055.08. This represents a 7.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 firm’s stock in a transaction dated 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 sale, the insider owned 14,683 shares of the company’s stock, valued at $1,522,333.44. The trade was a 2.89% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 20,423 shares of company stock worth $2,467,817. 0.50% of the stock is owned by corporate insiders.

Synaptics Trading Down 4.1%

SYNA stock opened at $93.68 on Tuesday. The business has a fifty day moving average price of $116.47 and a 200 day moving average price of $103.57. Synaptics Incorporated has a fifty-two week low of $58.28 and a fifty-two week high of $149.11. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -7.41 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.01 EPS. Analysts expect that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research report on Monday, June 29th. Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Rosenblatt Securities lowered their price objective on Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Needham & Company LLC cut Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.91.

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.