UBS Group AG Purchases 28,853 Shares of Synaptics Incorporated (NASDAQ:SYNA)

UBS Group AG raised its position in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 37.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,039 shares of the software maker’s stock after acquiring an additional 28,853 shares during the period. UBS Group AG owned approximately 0.27% of Synaptics worth $9,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in Synaptics by 1.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the software maker’s stock valued at $1,018,000 after buying an additional 200 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Synaptics by 24.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,844 shares of the software maker’s stock valued at $2,393,000 after buying an additional 5,042 shares during the last quarter. Comerica Bank raised its stake in Synaptics by 56.8% in the fourth quarter. Comerica Bank now owns 117,114 shares of the software maker’s stock valued at $13,276,000 after buying an additional 42,425 shares during the last quarter. Trigran Investments Inc. raised its stake in Synaptics by 38.9% in the third quarter. Trigran Investments Inc. now owns 688,202 shares of the software maker’s stock valued at $68,139,000 after buying an additional 192,778 shares during the last quarter. Finally, Centiva Capital LP purchased a new stake in Synaptics in the third quarter valued at about $957,000. 90.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Synaptics news, insider Saleel Awsare sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $115.28, for a total transaction of $576,400.00. Following the transaction, the insider now owns 33,755 shares in the company, valued at $3,891,276.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SYNA shares. Oppenheimer increased their price target on Synaptics from $185.00 to $195.00 in a research note on Monday, April 24th. Needham & Company LLC cut their price objective on Synaptics from $165.00 to $115.00 in a report on Thursday, May 4th. Craig Hallum cut their price objective on Synaptics from $150.00 to $115.00 in a report on Thursday, May 4th. KeyCorp cut their price objective on Synaptics from $140.00 to $100.00 in a report on Thursday, May 4th. Finally, BMO Capital Markets cut their price objective on Synaptics from $135.00 to $80.00 in a report on Thursday, May 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.55.

Synaptics Stock Down 1.7 %

Synaptics stock opened at $81.69 on Wednesday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 18.40 and a beta of 1.55. Synaptics Incorporated has a 52 week low of $67.73 and a 52 week high of $154.68. The business’s 50-day moving average price is $94.27 and its 200 day moving average price is $103.85. The company has a quick ratio of 4.41, a current ratio of 4.96 and a debt-to-equity ratio of 0.74.

Synaptics declared that its board has authorized a stock repurchase plan on Wednesday, May 3rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 14.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

About Synaptics

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Synaptics, Inc engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.