Texas Permanent School Fund trimmed its position in shares of Synaptics, Incorporated (NASDAQ:SYNA) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,004 shares of the software maker’s stock after selling 1,601 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Synaptics worth $919,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. First Quadrant L P CA boosted its holdings in Synaptics by 671.1% during the fourth quarter. First Quadrant L P CA now owns 7,711 shares of the software maker’s stock valued at $308,000 after acquiring an additional 6,711 shares during the period. James Investment Research Inc. bought a new stake in Synaptics during the fourth quarter valued at about $1,861,000. Bowling Portfolio Management LLC bought a new stake in Synaptics during the fourth quarter valued at about $756,000. Smith Graham & Co. Investment Advisors LP boosted its holdings in Synaptics by 10.9% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 263,855 shares of the software maker’s stock valued at $10,538,000 after acquiring an additional 25,960 shares during the period. Finally, Lingohr & Partner Asset Management GmbH boosted its holdings in Synaptics by 8.5% during the fourth quarter. Lingohr & Partner Asset Management GmbH now owns 30,578 shares of the software maker’s stock valued at $1,221,000 after acquiring an additional 2,400 shares during the period. Institutional investors own 97.74% of the company’s stock.
SYNA has been the subject of a number of recent analyst reports. Craig Hallum restated a “buy” rating and set a $49.00 price target (up from $43.00) on shares of Synaptics in a report on Thursday, February 8th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Synaptics in a report on Wednesday, December 13th. Stifel Nicolaus decreased their price target on shares of Synaptics from $68.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Rosenblatt Securities cut shares of Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Friday, November 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Synaptics in a research note on Sunday, November 19th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Synaptics currently has a consensus rating of “Hold” and a consensus price target of $47.63.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The firm had revenue of $430.40 million during the quarter, compared to analysts’ expectations of $430.59 million. Synaptics had a negative net margin of 5.04% and a positive return on equity of 13.70%. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.49 earnings per share. research analysts forecast that Synaptics, Incorporated will post 2.53 EPS for the current year.
In other Synaptics news, insider Rick Bergman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 130,307 shares in the company, valued at $5,212,280. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 22,617 shares of company stock valued at $1,107,929. Corporate insiders own 3.70% of the company’s stock.
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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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