1,239,622 Shares in Synaptics Incorporated $SYNA Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,239,622 shares of the software maker’s stock, valued at approximately $153,998,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System lifted its position in shares of Synaptics by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 9,333 shares of the software maker’s stock valued at $654,000 after acquiring an additional 100 shares during the period. LPL Financial LLC grew its holdings in shares of Synaptics by 3.9% during the 4th quarter. LPL Financial LLC now owns 3,216 shares of the software maker’s stock worth $238,000 after purchasing an additional 121 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Synaptics by 1.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,724 shares of the software maker’s stock worth $646,000 after purchasing an additional 132 shares during the period. Captrust Financial Advisors increased its position in shares of Synaptics by 4.0% in the fourth quarter. Captrust Financial Advisors now owns 4,262 shares of the software maker’s stock worth $315,000 after purchasing an additional 163 shares during the period. Finally, Empowered Funds LLC raised its stake in Synaptics by 3.8% in the fourth quarter. Empowered Funds LLC now owns 4,667 shares of the software maker’s stock valued at $345,000 after purchasing an additional 173 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYNA. Susquehanna cut their price objective on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Needham & Company LLC cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. TD Cowen downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Monday, June 29th. Finally, Barclays reissued an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.91.

Synaptics Price Performance

Shares of SYNA stock opened at $97.66 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11. The company has a market cap of $3.82 billion, a P/E ratio of -7.72 and a beta of 1.99. The business has a fifty day simple moving average of $117.40 and a 200 day simple moving average of $103.37.

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

Insider Activity

In related news, insider Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total transaction of $443,311.05. Following the sale, the insider directly owned 103,468 shares of the company’s stock, valued at approximately $10,724,458.20. The trade was a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, insider Esther Song sold 437 shares of Synaptics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the sale, the insider directly owned 14,683 shares in the company, valued at $1,522,333.44. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 three months, insiders have sold 21,115 shares of company stock worth $2,569,887. Corporate insiders own 0.50% of the company’s stock.

Synaptics 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.