Phocas Financial Corp. Takes $3.56 Million Position in Synaptics Incorporated (NASDAQ:SYNA)

Phocas Financial Corp. acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the fourth quarter, HoldingsChannel reports. The fund acquired 31,191 shares of the software maker’s stock, valued at approximately $3,558,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYNA. Metropolitan Life Insurance Co NY boosted its holdings in shares of Synaptics by 3.8% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,443 shares of the software maker’s stock worth $232,000 after buying an additional 89 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Synaptics by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,511 shares of the software maker’s stock valued at $446,000 after purchasing an additional 123 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Synaptics by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock valued at $270,000 after purchasing an additional 128 shares during the period. Point72 Hong Kong Ltd boosted its holdings in Synaptics by 12.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,241 shares of the software maker’s stock valued at $248,000 after purchasing an additional 135 shares during the period. Finally, Diversified Trust Co boosted its holdings in Synaptics by 5.8% in the 4th quarter. Diversified Trust Co now owns 3,332 shares of the software maker’s stock valued at $380,000 after purchasing an additional 184 shares during the period. Institutional investors own 99.43% of the company’s stock.

Insider Activity

In other news, insider Vikram Gupta sold 3,616 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $105.75, for a total value of $382,392.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYNA has been the subject of a number of recent research reports. StockNews.com raised shares of Synaptics from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Rosenblatt Securities boosted 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. Mizuho dropped their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Susquehanna boosted their target price on shares of Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC boosted their target price on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Synaptics has a consensus rating of “Moderate Buy” and a consensus target price of $125.36.

Synaptics Stock Performance

Shares of SYNA stock opened at $91.00 on Monday. The firm has a 50-day moving average of $101.63 and a 200-day moving average of $101.56. The company has a market cap of $3.58 billion, a P/E ratio of -45.73 and a beta of 1.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. Synaptics Incorporated has a one year low of $67.73 and a one year high of $121.37.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 earnings per share. Equities research analysts forecast that Synaptics Incorporated will post -0.48 EPS for the current fiscal year.

Synaptics Company Profile

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.