Pier 88 Investment Partners LLC Raises Position in Synaptics Incorporated $SYNA

Pier 88 Investment Partners LLC lifted its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 197,700.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,890 shares of the software maker’s stock after buying an additional 9,885 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Synaptics were worth $641,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYNA. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Synaptics in the 1st quarter worth approximately $25,000. Quarry LP lifted its position in shares of Synaptics by 220.0% during the first quarter. Quarry LP now owns 528 shares of the software maker’s stock worth $34,000 after purchasing an additional 363 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Synaptics in the first quarter valued at $35,000. Fifth Third Bancorp grew its holdings in Synaptics by 443.1% during the 2nd quarter. Fifth Third Bancorp now owns 630 shares of the software maker’s stock valued at $41,000 after purchasing an additional 514 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Synaptics by 480.3% during the 2nd quarter. Signaturefd LLC now owns 708 shares of the software maker’s stock valued at $46,000 after purchasing an additional 586 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYNA. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synaptics in a research report on Thursday, September 11th. They issued a “buy” rating and a $85.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $95.00 price target on shares of Synaptics in a research note on Friday, October 17th. TD Cowen raised their price objective on Synaptics from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. Barclays assumed coverage on Synaptics in a report on Monday, August 18th. They set an “overweight” rating and a $78.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Synaptics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.29.

Synaptics Trading Down 3.7%

Shares of NASDAQ SYNA opened at $66.08 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $69.66 and its two-hundred day moving average price is $65.99. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $89.81. The stock has a market capitalization of $2.58 billion, a P/E ratio of -54.61, a PEG ratio of 3.03 and a beta of 1.63.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 6th. The software maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $292.50 million during the quarter, compared to the consensus estimate of $289.93 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. On average, analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Synaptics announced that its Board of Directors has authorized a share buyback program on Thursday, August 7th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.