Choreo LLC Acquires New Shares in Synaptics Incorporated (NASDAQ:SYNA)

Choreo LLC acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,665 shares of the software maker’s stock, valued at approximately $532,000.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Synaptics by 711.8% in the third quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Synaptics in the third quarter valued at approximately $31,000. Fifth Third Bancorp lifted its stake in Synaptics by 92.4% during the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock worth $39,000 after purchasing an additional 208 shares in the last quarter. Headinvest LLC purchased a new position in shares of Synaptics during the third quarter worth $40,000. Finally, Covestor Ltd boosted its position in shares of Synaptics by 180.3% during the third quarter. Covestor Ltd now owns 639 shares of the software maker’s stock worth $57,000 after buying an additional 411 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Up 2.3 %

Synaptics stock opened at $89.63 on Friday. Synaptics Incorporated has a 1-year low of $67.73 and a 1-year high of $121.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. The stock has a market cap of $3.52 billion, a PE ratio of -45.04 and a beta of 1.59. The stock’s fifty day moving average is $95.50 and its two-hundred day moving average is $100.87.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The company had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $235.26 million. During the same period last year, the firm earned $1.47 earnings per share. Synaptics’s quarterly revenue was down 32.9% on a year-over-year basis. On average, sell-side analysts expect that Synaptics Incorporated will post -0.48 EPS for the current fiscal year.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total transaction of $382,392.00. Following the sale, the insider now owns 31,847 shares in the company, valued at $3,367,820.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. KeyCorp raised their price target on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Susquehanna raised their price target on Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. TD Cowen raised their price target on Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Needham & Company LLC raised their price target on Synaptics from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Mizuho decreased their target price on Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and a consensus target price of $118.40.

Synaptics Company 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.