Register Financial Advisors LLC Takes Position in Synaptics Incorporated (NASDAQ:SYNA)

Register Financial Advisors LLC bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 780 shares of the software maker’s stock, valued at approximately $76,000.

Other institutional investors have also recently made changes to their positions in the company. Headinvest LLC bought a new position in shares of Synaptics during the 3rd quarter worth approximately $40,000. CWM LLC boosted its stake in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares during the period. PNC Financial Services Group Inc. boosted its stake in Synaptics by 37.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,336 shares of the software maker’s stock valued at $119,000 after purchasing an additional 364 shares during the period. Holderness Investments Co. bought a new stake in Synaptics in the 3rd quarter valued at $204,000. Finally, Truist Financial Corp bought a new stake in Synaptics in the 4th quarter valued at $212,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Stock Up 1.5 %

Shares of SYNA stock traded up $1.31 during trading hours on Friday, reaching $88.20. 435,736 shares of the company’s stock were exchanged, compared to its average volume of 291,982. The stock’s 50 day moving average is $90.44 and its 200-day moving average is $99.74. The company has a market cap of $3.48 billion, a price-to-earnings ratio of -32.06 and a beta of 1.48. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Synaptics Incorporated has a fifty-two week low of $73.38 and a fifty-two week high of $121.37.

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

Analysts Set New Price Targets

Several research firms have commented on SYNA. TD Cowen dropped their target price on Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Needham & Company LLC lowered their price objective on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company lowered their price objective on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, KeyCorp lowered their price objective on Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.67.

About Synaptics

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.