California Public Employees Retirement System Boosts Holdings in Synaptics Incorporated (NASDAQ:SYNA)

California Public Employees Retirement System boosted its position in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,435 shares of the software maker’s stock after buying an additional 3,163 shares during the period. California Public Employees Retirement System’s holdings in Synaptics were worth $23,576,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYNA. Morgan Stanley grew its position in Synaptics by 99.7% in the 2nd quarter. Morgan Stanley now owns 267,957 shares of the software maker’s stock valued at $41,689,000 after buying an additional 133,810 shares during the last quarter. Raymond James & Associates grew its position in Synaptics by 12.1% in the 3rd quarter. Raymond James & Associates now owns 3,110 shares of the software maker’s stock valued at $559,000 after buying an additional 335 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Synaptics by 131.6% in the third quarter. Advisory Services Network LLC now owns 1,401 shares of the software maker’s stock valued at $252,000 after acquiring an additional 796 shares during the period. Mackenzie Financial Corp acquired a new stake in Synaptics in the third quarter valued at $371,000. Finally, Barclays PLC lifted its holdings in Synaptics by 24.0% in the third quarter. Barclays PLC now owns 37,747 shares of the software maker’s stock valued at $6,784,000 after acquiring an additional 7,303 shares during the period. Hedge funds and other institutional investors own 91.93% of the company’s stock.

SYNA has been the subject of a number of recent analyst reports. Summit Insights downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Craig Hallum reduced their target price on Synaptics from $265.00 to $220.00 in a report on Friday, May 6th. Needham & Company LLC reduced their target price on Synaptics from $340.00 to $265.00 in a report on Friday, May 6th. TheStreet downgraded Synaptics from a “b” rating to a “c+” rating in a report on Monday, February 7th. Finally, StockNews.com began coverage on Synaptics in a report on Thursday, March 31st. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Synaptics presently has an average rating of “Buy” and an average target price of $243.85.

In related news, insider Dean Warren Butler sold 1,126 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $155.61, for a total transaction of $175,216.86. Following the completion of the sale, the insider now owns 26,651 shares of the company’s stock, valued at approximately $4,147,162.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kiva A. Allgood sold 196 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the sale, the director now directly owns 6,654 shares of the company’s stock, valued at approximately $1,035,428.94. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

NASDAQ:SYNA opened at $145.21 on Friday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 30.44 and a beta of 1.34. The company has a current ratio of 3.17, a quick ratio of 2.80 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $182.40 and its two-hundred day moving average is $222.73. Synaptics Incorporated has a 12-month low of $117.00 and a 12-month high of $299.39.

Synaptics (NASDAQ:SYNA – Get Rating) last released its earnings results on Thursday, May 5th. The software maker reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.55 by $0.20. The company had revenue of $470.10 million for the quarter, compared to analyst estimates of $464.65 million. Synaptics had a net margin of 12.17% and a return on equity of 34.97%. The firm’s quarterly revenue was up 44.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. On average, equities research analysts forecast that Synaptics Incorporated will post 10.9 earnings per share for the current fiscal year.

Synaptics Company Profile (Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

See Also