Victory Capital Management Inc. Grows Stake in Synaptics Incorporated (NASDAQ:SYNA)

Victory Capital Management Inc. raised its stake in Synaptics Incorporated (NASDAQ:SYNA) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 577,523 shares of the software maker’s stock after acquiring an additional 31,565 shares during the quarter. Victory Capital Management Inc. owned approximately 1.45% of Synaptics worth $44,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics during the 2nd quarter valued at approximately $67,000. Innealta Capital LLC purchased a new stake in shares of Synaptics during the 2nd quarter valued at approximately $83,000. CWM LLC lifted its stake in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after buying an additional 423 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of Synaptics during the 3rd quarter valued at approximately $132,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $74.64 on Friday. The company’s fifty day moving average price is $73.89 and its 200-day moving average price is $82.07. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 18.90 and a beta of 1.47. Synaptics Incorporated has a one year low of $67.83 and a one year high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 1,870 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $149,600.00. Following the transaction, the insider now owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,609 shares of company stock valued at $448,720 in the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of recent research reports. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. TD Cowen upped their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Susquehanna decreased their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Rosenblatt Securities decreased their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Needham & Company LLC decreased their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $97.33.

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.