TimesSquare Capital Management LLC Buys 165,866 Shares of Synaptics Incorporated (NASDAQ:SYNA)

TimesSquare Capital Management LLC lifted its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 46.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 526,335 shares of the software maker’s stock after acquiring an additional 165,866 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Synaptics were worth $40,170,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Synaptics during the 3rd quarter worth $31,000. CWM LLC lifted its holdings in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after acquiring an additional 423 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Synaptics during the 3rd quarter worth $132,000. KBC Group NV lifted its holdings in shares of Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after acquiring an additional 837 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Synaptics during the 3rd quarter worth $218,000. 99.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the transaction, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Synaptics Price Performance

SYNA stock opened at $73.57 on Wednesday. The firm’s 50-day moving average price is $78.56 and its two-hundred day moving average price is $76.40. Synaptics Incorporated has a 12-month low of $67.16 and a 12-month high of $109.00. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 17.39 and a beta of 1.45. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60.

Analysts Set New Price Targets

Several research firms have weighed in on SYNA. Rosenblatt Securities reissued a “buy” rating and issued a $92.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Susquehanna boosted their price target on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Finally, TD Cowen boosted their price target on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $95.25.

About Synaptics

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.