Synaptics Incorporated (NASDAQ:SYNA) Insider Sells $24,535.80 in Stock

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 258 shares of Synaptics stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $95.10, for a total transaction of $24,535.80. Following the completion of the sale, the insider now directly owns 31,094 shares in the company, valued at approximately $2,957,039.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Synaptics Price Performance

Shares of NASDAQ SYNA opened at $91.95 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78. The company’s 50-day moving average price is $90.58 and its 200 day moving average price is $100.51. Synaptics Incorporated has a 52 week low of $73.38 and a 52 week high of $121.37.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The business had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. As a group, sell-side analysts expect that Synaptics Incorporated will post -0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Synaptics

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Synaptics by 1.6% during the third quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock valued at $419,691,000 after buying an additional 72,044 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Synaptics by 2.9% during the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after purchasing an additional 116,276 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Synaptics by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after purchasing an additional 44,548 shares during the period. FMR LLC raised its holdings in Synaptics by 39.3% in the third quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock valued at $100,579,000 after buying an additional 317,307 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Synaptics by 49.1% during the third quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock valued at $39,172,000 after buying an additional 144,252 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SYNA. Needham & Company LLC lowered their price objective on Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Wells Fargo & Company dropped their price objective on Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. KeyCorp decreased their target price on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Finally, TD Cowen lowered their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Synaptics has an average rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products 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, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.