Kintayl Capital LP Buys Shares of 44,358 Synaptics Incorporated $SYNA

Kintayl Capital LP purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 44,358 shares of the software maker’s stock, valued at approximately $5,511,000. Synaptics makes up about 2.2% of Kintayl Capital LP’s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Synaptics by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock valued at $5,780,000 after buying an additional 4,917 shares during the last quarter. M&T Bank Corp bought a new stake in Synaptics during the 2nd quarter worth approximately $205,000. First Trust Advisors LP increased its position in Synaptics by 9.8% in the 2nd quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock valued at $3,915,000 after acquiring an additional 5,393 shares during the period. Marshall Wace LLP increased its position in Synaptics by 472.1% in the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock valued at $5,801,000 after acquiring an additional 73,848 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Synaptics by 9.1% during the second quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock valued at $1,514,000 after acquiring an additional 1,939 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Performance

Shares of SYNA opened at $94.87 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $115.67 and its two-hundred day simple moving average is $103.62. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11. The stock has a market capitalization of $3.71 billion, a P/E ratio of -7.50 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. As a group, analysts predict that Synaptics Incorporated will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYNA shares. Wells Fargo & Company reduced their price objective on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft lowered 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. Mizuho increased their price target on Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Susquehanna cut their price objective on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $123.91.

Insider Buying and Selling

In other news, insider Esther Song sold 437 shares of Synaptics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total value of $45,308.16. Following the completion of the sale, the insider owned 14,683 shares in the company, valued at $1,522,333.44. The trade was a 2.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 Vikram Gupta sold 4,277 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the transaction, the insider directly owned 103,468 shares in the company, valued at approximately $10,724,458.20. This represents a 3.97% 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. Insiders sold 20,423 shares of company stock valued at $2,467,817 over the last 90 days. Company insiders own 0.50% of the company’s stock.

About Synaptics

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.