Raymond James Financial Services Advisors Inc. Buys Shares of 2,052 Synaptics Incorporated (NASDAQ:SYNA)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,052 shares of the software maker’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Synaptics by 711.8% in the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock valued at $25,000 after acquiring an additional 242 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Synaptics in the third quarter valued at about $31,000. Fifth Third Bancorp raised its stake in shares of Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock worth $39,000 after purchasing an additional 208 shares during the last quarter. Headinvest LLC acquired a new stake in shares of Synaptics during the third quarter worth about $40,000. Finally, Covestor Ltd boosted its position in Synaptics by 180.3% in the third quarter. Covestor Ltd now owns 639 shares of the software maker’s stock valued at $57,000 after buying an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analyst Ratings Changes

SYNA has been the subject of several research reports. Mizuho decreased their price objective on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Susquehanna upped their price target on shares of Synaptics from $130.00 to $135.00 and gave the company a “positive” rating in a report on Friday, February 9th. Rosenblatt Securities increased their price target on Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. TD Cowen boosted their price objective on Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, StockNews.com upgraded Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.36.

Synaptics Trading Up 4.6 %

Shares of SYNA stock opened at $83.46 on Wednesday. Synaptics Incorporated has a 1-year low of $67.73 and a 1-year high of $121.37. The company has a market cap of $3.28 billion, a price-to-earnings ratio of -41.94 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. The stock has a 50 day simple moving average of $98.58 and a 200-day simple moving average of $101.32.

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, beating the consensus estimate of $0.46 by $0.11. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The business had revenue of $237.00 million for the quarter, compared to the consensus estimate of $235.26 million. During the same period last year, the firm posted $1.47 earnings per share. The company’s revenue was down 32.9% compared to the same quarter last year. On average, equities research analysts expect that Synaptics Incorporated will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the transaction, the insider now 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 is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

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.