West Coast Financial LLC raised its holdings in shares of Synaptics, Incorporated (NASDAQ:SYNA) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,443 shares of the software maker’s stock after buying an additional 3,231 shares during the period. West Coast Financial LLC owned about 0.23% of Synaptics worth $3,670,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new stake in Synaptics during the third quarter valued at approximately $103,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Synaptics in the second quarter worth $166,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Synaptics by 53.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,315 shares of the software maker’s stock worth $197,000 after purchasing an additional 1,500 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Synaptics in the first quarter worth $226,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Synaptics in the second quarter worth $252,000. 98.18% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SYNA traded down $0.23 during midday trading on Friday, reaching $36.92. 15,621 shares of the company were exchanged, compared to its average volume of 504,992. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.14 and a current ratio of 2.61. Synaptics, Incorporated has a one year low of $33.73 and a one year high of $55.25. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.31 and a beta of 0.77.
In related news, insider Rick Bergman sold 20,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $48.35, for a total transaction of $967,000.00. Following the completion of the transaction, the insider now owns 148,960 shares in the company, valued at $7,202,216. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on SYNA. ValuEngine raised shares of Synaptics from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Craig Hallum raised shares of Synaptics to a “buy” rating and set a $56.00 price objective for the company in a research note on Wednesday, August 29th. Rosenblatt Securities set a $55.00 price objective on shares of Synaptics and gave the stock a “hold” rating in a research note on Saturday, August 11th. Finally, Lake Street Capital reissued a “hold” rating and issued a $52.00 price objective on shares of Synaptics in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.36.
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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