State of Alaska Department of Revenue Cuts Position in Synaptics Incorporated (NASDAQ:SYNA)

State of Alaska Department of Revenue decreased its holdings in Synaptics Incorporated (NASDAQ:SYNAGet Rating) by 3.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,497 shares of the software maker’s stock after selling 190 shares during the quarter. State of Alaska Department of Revenue’s holdings in Synaptics were worth $544,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in Synaptics in the third quarter valued at approximately $1,040,000. Pacer Advisors Inc. grew its position in Synaptics by 472.2% in the third quarter. Pacer Advisors Inc. now owns 5,030 shares of the software maker’s stock valued at $498,000 after acquiring an additional 4,151 shares in the last quarter. American National Bank acquired a new stake in Synaptics in the third quarter valued at approximately $35,000. Verition Fund Management LLC acquired a new stake in Synaptics in the second quarter valued at approximately $539,000. Finally, Captrust Financial Advisors grew its position in Synaptics by 182.5% in the second quarter. Captrust Financial Advisors now owns 2,664 shares of the software maker’s stock valued at $314,000 after acquiring an additional 1,721 shares in the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Saleel Awsare sold 4,000 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $102.80, for a total value of $411,200.00. Following the sale, the insider now directly owns 38,641 shares in the company, valued at $3,972,294.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael E. Hurlston sold 36,000 shares of Synaptics stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $98.67, for a total transaction of $3,552,120.00. Following the sale, the insider now directly owns 328,160 shares in the company, valued at $32,379,547.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Saleel Awsare sold 4,000 shares of Synaptics stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $102.80, for a total transaction of $411,200.00. Following the sale, the insider now owns 38,641 shares in the company, valued at $3,972,294.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,487 shares of company stock worth $6,513,733. 0.97% of the stock is owned by insiders.

Synaptics Stock Performance

Synaptics stock opened at $111.04 on Friday. The company has a market cap of $4.43 billion, a PE ratio of 16.02 and a beta of 1.47. The company has a fifty day moving average price of $99.19 and a two-hundred day moving average price of $109.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.86 and a quick ratio of 3.37. Synaptics Incorporated has a 12 month low of $81.13 and a 12 month high of $257.87.

Synaptics (NASDAQ:SYNAGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The software maker reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.12. The firm had revenue of $448.10 million during the quarter, compared to the consensus estimate of $450.48 million. Synaptics had a net margin of 15.53% and a return on equity of 39.05%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 earnings per share. Research analysts expect that Synaptics Incorporated will post 6.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SYNA has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on shares of Synaptics from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Cowen decreased their price target on shares of Synaptics from $210.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, October 31st. TheStreet downgraded shares of Synaptics from a “b-” rating to a “c+” rating in a research report on Friday, October 14th. BMO Capital Markets decreased their price target on shares of Synaptics from $110.00 to $90.00 and set a “market perform” rating for the company in a research report on Friday, November 4th. Finally, Wells Fargo & Company decreased their price target on shares of Synaptics from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Friday, November 4th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Synaptics Company Profile

(Get Rating)

Synaptics Incorporated develops, markets, and sells semiconductor product solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

See Also

Want to see what other hedge funds are holding SYNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synaptics Incorporated (NASDAQ:SYNAGet Rating).

Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.