Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its stake in Synaptics Incorporated (NASDAQ:SYNA) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,169 shares of the software maker’s stock after selling 1,092 shares during the quarter. American International Group Inc.’s holdings in Synaptics were worth $6,943,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Synaptics by 3.5% in the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after purchasing an additional 123 shares during the period. CWM LLC raised its holdings in shares of Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares during the period. Bridge City Capital LLC raised its holdings in shares of Synaptics by 0.8% during the first quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock worth $1,863,000 after purchasing an additional 149 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Synaptics by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after purchasing an additional 163 shares during the period. Finally, Managed Asset Portfolios LLC raised its holdings in shares of Synaptics by 6.2% during the fourth quarter. Managed Asset Portfolios LLC now owns 3,210 shares of the software maker’s stock worth $366,000 after purchasing an additional 186 shares during the period. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Needham & Company LLC dropped their target price on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 10th. TD Cowen lowered their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company lowered their price target on shares of 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 target on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Synaptics presently has a consensus rating of “Moderate Buy” and an average target price of $117.67.

Synaptics Stock Down 0.2 %

SYNA stock opened at $87.49 on Friday. The company has a quick ratio of 4.78, a current ratio of 5.32 and a debt-to-equity ratio of 0.78. Synaptics Incorporated has a one year low of $73.38 and a one year high of $121.37. The firm has a 50-day moving average of $91.02 and a two-hundred day moving average of $96.50.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $237.30 million during 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 firm’s revenue was down 27.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. On average, research analysts expect that Synaptics Incorporated will post -0.36 EPS for the current year.

Synaptics 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.