Expect Equity LLC Acquires Shares of 17,663 Synaptics Incorporated $SYNA

Expect Equity LLC bought a new position in Synaptics Incorporated (NASDAQ:SYNA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,663 shares of the software maker’s stock, valued at approximately $2,194,000.

Several other institutional investors and hedge funds have also modified their holdings of SYNA. CoreCap Advisors LLC acquired a new stake in Synaptics during the second quarter valued at $25,000. Allworth Financial LP acquired a new position in Synaptics in the 2nd quarter worth about $33,000. CIBC Private Wealth Group LLC raised its stake in shares of Synaptics by 119.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after purchasing an additional 190 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Synaptics during the 2nd quarter worth about $61,000. Finally, State of Wyoming acquired a new stake in shares of Synaptics during the 2nd quarter valued at about $65,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Esther Song sold 8,833 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 12,421 shares in the company, valued at $1,753,472.57. This represents a 41.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 6,056 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the sale, the insider directly owned 78,634 shares in the company, valued at $8,148,055.08. This trade represents a 7.15% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 20,423 shares of company stock valued at $2,467,817. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SYNA shares. Deutsche Bank Aktiengesellschaft cut 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. Wells Fargo & Company reduced their target price on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. TD Cowen downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. increased their price target on shares of Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Susquehanna cut their price target on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Synaptics currently has an average rating of “Hold” and an average price target of $123.91.

Synaptics Stock Performance

Shares of SYNA opened at $94.87 on Wednesday. The company has a market capitalization of $3.71 billion, a PE ratio of -7.50 and a beta of 1.99. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. The company’s fifty day moving average price is $115.67 and its 200 day moving average price is $103.62.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, analysts expect that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Synaptics Company 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.