Handelsbanken Fonder AB Purchases 5,000 Shares of Synaptics Incorporated $SYNA

Handelsbanken Fonder AB grew its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 34.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,637 shares of the software maker’s stock after acquiring an additional 5,000 shares during the period. Handelsbanken Fonder AB owned 0.05% of Synaptics worth $2,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Synaptics by 2,384.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 939,182 shares of the software maker’s stock valued at $65,780,000 after purchasing an additional 901,379 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Synaptics by 469.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 814,684 shares of the software maker’s stock worth $60,304,000 after purchasing an additional 671,647 shares in the last quarter. AQR Capital Management LLC lifted its stake in Synaptics by 186.2% in the second quarter. AQR Capital Management LLC now owns 443,441 shares of the software maker’s stock valued at $28,744,000 after buying an additional 288,523 shares during the period. Primecap Management Co. CA acquired a new position in Synaptics in the fourth quarter valued at approximately $15,670,000. Finally, Squarepoint Ops LLC boosted its holdings 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 buying an additional 156,671 shares in the last quarter. 99.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho lifted their price objective on shares of Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Rosenblatt Securities cut their target price on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Susquehanna reduced their price target on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, June 29th. Finally, Northland Securities lowered shares of Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Synaptics presently has an average rating of “Hold” and a consensus target price of $123.91.

Insider Activity

In related news, insider Esther Song sold 8,833 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $141.17, for a total value of $1,246,954.61. Following the transaction, the insider owned 12,421 shares of the company’s stock, valued at approximately $1,753,472.57. This trade represents a 41.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 612 shares of Synaptics stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $114.83, for a total value of $70,275.96. Following the transaction, the insider owned 63,106 shares of the company’s stock, valued at $7,246,461.98. This trade represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,649 shares of company stock worth $1,603,484 over the last three months. 0.50% of the stock is currently owned by insiders.

Synaptics Price Performance

Shares of SYNA opened at $108.63 on Monday. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month high of $149.11. The business’s fifty day moving average is $120.56 and its 200 day moving average is $102.88. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $4.25 billion, a P/E ratio of -8.59 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The business had revenue of $308.00 million during the quarter, compared to analyst estimates of $305.32 million. During the same quarter in the previous year, the business posted $1.01 EPS. Synaptics’s quarterly revenue was up 8.9% on a year-over-year basis. Sell-side analysts anticipate that Synaptics Incorporated will post 1.86 earnings per share for the current fiscal year.

Synaptics Profile

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.