Pacer Advisors Inc. Reduces Position in Synaptics Incorporated $SYNA

Pacer Advisors Inc. reduced its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 51.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,711 shares of the software maker’s stock after selling 4,995 shares during the period. Pacer Advisors Inc.’s holdings in Synaptics were worth $330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Synaptics by 2,384.4% in the first quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker’s stock valued at $65,780,000 after buying an additional 901,379 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Synaptics by 469.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock worth $60,304,000 after buying an additional 671,647 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Synaptics by 186.2% during the 2nd quarter. AQR Capital Management LLC now owns 443,441 shares of the software maker’s stock worth $28,744,000 after buying an additional 288,523 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Synaptics during the 4th quarter worth about $15,670,000. Finally, Squarepoint Ops LLC boosted its position in shares of Synaptics by 376.6% during the 2nd quarter. Squarepoint Ops LLC now owns 198,269 shares of the software maker’s stock worth $12,852,000 after acquiring an additional 156,671 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Analyst Upgrades and Downgrades

SYNA has been the topic of several research analyst reports. Needham & Company LLC lowered Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. upped their price target on Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Mizuho raised their price objective on shares of Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Zacks Research upgraded shares of Synaptics from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, TD Cowen downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.91.

Synaptics Trading Up 2.1%

NASDAQ:SYNA opened at $106.92 on Wednesday. The company has a market capitalization of $4.13 billion, a PE ratio of -8.45 and a beta of 1.99. Synaptics Incorporated has a 52-week low of $58.28 and a 52-week high of $149.11. The stock’s 50 day moving average price is $122.22 and its 200 day moving average price is $102.40. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, research analysts anticipate that Synaptics Incorporated will post 1.75 EPS for the current year.

Insider Activity at Synaptics

In other news, insider Vikram Gupta sold 360 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $114.20, for a total value of $41,112.00. Following the completion of the sale, the insider directly owned 81,226 shares of the company’s stock, valued at approximately $9,276,009.20. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the sale, the insider owned 12,421 shares of the company’s stock, valued at $1,753,472.57. This trade represents a 41.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,649 shares of company stock worth $1,603,484 in the last 90 days. 0.50% of the stock is owned by insiders.

About Synaptics

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.