State of Alaska Department of Revenue Decreases Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

State of Alaska Department of Revenue reduced its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,237 shares of the software maker’s stock after selling 460 shares during the period. State of Alaska Department of Revenue’s holdings in Synaptics were worth $483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYNA. Brown Brothers Harriman & Co. acquired a new position in shares of Synaptics during the 1st quarter worth about $49,000. Signaturefd LLC lifted its stake in Synaptics by 711.8% during the third quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Synaptics in the third quarter valued at approximately $31,000. Belpointe Asset Management LLC increased its stake in Synaptics by 112.9% in the first quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock valued at $40,000 after purchasing an additional 193 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Synaptics by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock worth $39,000 after buying an additional 208 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYNA. Rosenblatt Securities increased their target price on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 9th. TD Cowen lifted their target price on Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Mizuho decreased their target price on Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, February 9th. KeyCorp raised their price target on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC increased their price objective on Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.36.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the sale, the insider now directly owns 31,847 shares in the company, valued at $3,367,820.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Synaptics Stock Performance

NASDAQ:SYNA opened at $91.00 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -45.73 and a beta of 1.56. The firm’s fifty day moving average price is $101.63 and its 200 day moving average price is $101.30. Synaptics Incorporated has a 1-year low of $67.73 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $237.00 million for the quarter, compared to analyst estimates of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The business’s revenue was down 32.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 earnings per share. On average, sell-side analysts expect that Synaptics Incorporated will post -0.48 EPS for the current year.

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.