Lucus Advisors LLC bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the first quarter, Holdings Channel reports. The firm bought 8,249 shares of the software maker’s stock, valued at approximately $408,000.
Other hedge funds have also recently made changes to their positions in the company. TrimTabs Asset Management LLC raised its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares during the last quarter. Edge Wealth Management LLC raised its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Synaptics by 47.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,295 shares of the software maker’s stock worth $165,000 after buying an additional 1,063 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Synaptics during the first quarter worth about $220,000. Finally, Advantus Capital Management Inc raised its stake in shares of Synaptics by 6.5% in the first quarter. Advantus Capital Management Inc now owns 4,527 shares of the software maker’s stock worth $224,000 after buying an additional 275 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
Shares of Synaptics Incorporated (NASDAQ SYNA) traded down 1.15% during trading on Friday, hitting $52.28. 1,089,381 shares of the company were exchanged. The company’s 50-day moving average price is $56.06 and its 200 day moving average price is $54.12. Synaptics Incorporated has a 12 month low of $47.00 and a 12 month high of $69.45. The stock has a market cap of $1.79 billion, a P/E ratio of 78.73 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, April 27th. The software maker reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. Synaptics had a return on equity of 13.73% and a net margin of 1.48%. The firm had revenue of $442.20 million for the quarter, compared to analysts’ expectations of $430.19 million. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that Synaptics Incorporated will post $4.87 earnings per share for the current fiscal year.
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SYNA has been the subject of several research reports. BidaskClub upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. BMO Capital Markets restated a “hold” rating and issued a $56.00 price target on shares of Synaptics in a research note on Tuesday. Vetr downgraded shares of Synaptics from a “hold” rating to a “sell” rating and set a $57.50 price target for the company. in a research note on Wednesday, June 7th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price target (down previously from $90.00) on shares of Synaptics in a research note on Saturday, April 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Synaptics in a research note on Friday, June 9th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $59.43.
In other Synaptics news, CEO Rick Bergman sold 20,000 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $55.03, for a total transaction of $1,100,600.00. Following the completion of the transaction, the chief executive officer now directly owns 115,488 shares of the company’s stock, valued at approximately $6,355,304.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Wajid Ali sold 555 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $56.75, for a total transaction of $31,496.25. Following the transaction, the vice president now directly owns 15,900 shares of the company’s stock, valued at $902,325. The disclosure for this sale can be found here. Insiders have sold a total of 39,930 shares of company stock worth $2,212,446 in the last ninety days. 3.60% of the stock is currently owned by insiders.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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