Norges Bank Takes $40.26 Million Position in Synaptics Incorporated (NASDAQ:SYNA)

Norges Bank acquired a new position in Synaptics Incorporated (NASDAQ:SYNAFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 352,920 shares of the software maker’s stock, valued at approximately $40,261,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYNA. Great Lakes Advisors LLC grew its holdings in shares of Synaptics by 273.2% during the 4th quarter. Great Lakes Advisors LLC now owns 28,392 shares of the software maker’s stock worth $3,239,000 after purchasing an additional 20,784 shares during the period. Managed Asset Portfolios LLC boosted its stake in Synaptics by 6.2% during the fourth quarter. Managed Asset Portfolios LLC now owns 3,210 shares of the software maker’s stock worth $366,000 after buying an additional 186 shares during the period. Panagora Asset Management Inc. increased its position in shares of Synaptics by 193.2% during the fourth quarter. Panagora Asset Management Inc. now owns 50,287 shares of the software maker’s stock valued at $5,737,000 after acquiring an additional 33,134 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Synaptics during the 4th quarter worth approximately $426,000. Finally, Victory Capital Management Inc. grew its stake in shares of Synaptics by 1,255.2% in the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after buying an additional 365,282 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Trading Up 2.8 %

Shares of NASDAQ:SYNA opened at $93.72 on Friday. Synaptics Incorporated has a 52 week low of $73.38 and a 52 week high of $121.37. The company’s 50 day moving average is $91.25 and its two-hundred day moving average is $101.34. The company has a market cap of $3.70 billion, a PE ratio of -34.58 and a beta of 1.59. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78.

Synaptics (NASDAQ:SYNAGet Free Report) last posted its earnings results on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. Synaptics’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. Equities analysts predict that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SYNA has been the subject of a number of research analyst reports. TD Cowen lowered their target price on Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 10th. StockNews.com upgraded shares of Synaptics from a “sell” rating to a “hold” rating in a report on Monday, February 12th. Rosenblatt Securities increased their target price on shares of Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 9th. KeyCorp decreased their price target on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, Susquehanna upped their price objective on Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

View Our Latest Analysis on SYNA

About Synaptics

(Free Report)

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.

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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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