South Dakota Investment Council Has $979,000 Holdings in Synaptics Incorporated (NASDAQ:SYNA)

South Dakota Investment Council decreased its position in Synaptics Incorporated (NASDAQ:SYNA) by 61.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,580 shares of the software maker’s stock after selling 13,519 shares during the quarter. South Dakota Investment Council’s holdings in Synaptics were worth $979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Synaptics by 711.8% during the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Synaptics during the third quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares during the period. Headinvest LLC bought a new position in shares of Synaptics during the 3rd quarter worth approximately $40,000. Finally, Covestor Ltd increased its holdings in shares of Synaptics by 180.3% during the 3rd quarter. Covestor Ltd now owns 639 shares of the software maker’s stock worth $57,000 after acquiring an additional 411 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the completion of the sale, the insider now directly owns 31,847 shares in the company, valued at $3,367,820.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Synaptics Price Performance

Shares of SYNA opened at $87.57 on Friday. The business has a 50-day moving average of $97.14 and a 200-day moving average of $101.05. Synaptics Incorporated has a 1 year low of $67.73 and a 1 year high of $121.37. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -44.00 and a beta of 1.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm had revenue of $237.00 million for the quarter, compared to the consensus estimate of $235.26 million. During the same quarter in the previous year, the company earned $1.47 EPS. The company’s revenue for the quarter was down 32.9% on a year-over-year basis. As a group, equities research analysts anticipate that Synaptics Incorporated will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYNA. Needham & Company LLC upped their price objective on Synaptics from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Rosenblatt Securities lifted their price target on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 9th. Susquehanna raised their target price on shares of Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Mizuho dropped their price target on Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, TD Cowen upped their target price on Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.40.

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.