Jupiter Topco LLC Purchases New Shares in Synaptics Incorporated $SYNA

Jupiter Topco LLC purchased a new position in Synaptics Incorporated (NASDAQ:SYNA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,252 shares of the software maker’s stock, valued at approximately $2,022,000.

A number of other institutional investors have also added to or reduced their stakes in SYNA. State Street Corp boosted its holdings in shares of Synaptics by 0.5% during 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 in the last quarter. Orbis Allan Gray Ltd increased its stake in shares of Synaptics by 9.9% in 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 in the last quarter. William Blair Investment Management LLC bought a new position in shares of Synaptics in the 2nd quarter worth about $153,998,000. The Manufacturers Life Insurance Company purchased a new position in Synaptics during the 2nd quarter valued at about $133,656,000. Finally, Geode Capital Management LLC lifted its position in 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 during the period. Institutional investors own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SYNA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Northland Securities lowered shares of Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Wall Street Zen raised Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Rosenblatt Securities cut their price target on Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Synaptics has an average rating of “Hold” and an average price target of $123.91.

Insider Transactions at Synaptics

In related news, insider Lisa Bodensteiner sold 6,056 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the transaction, the insider directly owned 78,634 shares in the company, valued at $8,148,055.08. The trade was a 7.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. The trade was a 2.89% 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. Over the last 90 days, insiders have sold 15,867 shares of company stock worth $1,624,996. Corporate insiders own 0.50% of the company’s stock.

Synaptics Stock Performance

Shares of Synaptics stock opened at $97.68 on Friday. Synaptics Incorporated has a 1 year low of $58.28 and a 1 year high of $149.11. The firm’s 50-day moving average is $110.18 and its 200 day moving average is $103.98. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -7.72 and a beta of 1.94. 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 released its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share 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 negative net margin of 41.00% and a positive return on equity of 4.37%. Synaptics’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Sell-side analysts anticipate that Synaptics Incorporated will post 1.98 EPS for the current fiscal year.

About Synaptics

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.