Raymond James & Associates Grows Position in Synaptics Incorporated (NASDAQ:SYNA)

Raymond James & Associates grew its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 57.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,942 shares of the software maker’s stock after purchasing an additional 5,093 shares during the period. Raymond James & Associates’ holdings in Synaptics were worth $1,591,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SYNA. BlackRock Inc. lifted its stake in shares of Synaptics by 6.9% in the second quarter. BlackRock Inc. now owns 5,323,437 shares of the software maker’s stock valued at $454,515,000 after purchasing an additional 341,905 shares during the period. Vanguard Group Inc. lifted its position in shares of Synaptics by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock valued at $419,691,000 after acquiring an additional 72,044 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Synaptics by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after acquiring an additional 116,276 shares in the last quarter. State Street Corp grew its holdings in shares of Synaptics by 12.8% in the 2nd quarter. State Street Corp now owns 1,911,228 shares of the software maker’s stock worth $163,181,000 after acquiring an additional 217,460 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Synaptics by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock worth $118,885,000 after acquiring an additional 39,352 shares during the period. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Price Performance

SYNA stock opened at $81.69 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -41.05 and a beta of 1.56. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. Synaptics Incorporated has a 52-week low of $67.73 and a 52-week high of $121.37. The stock’s fifty day simple moving average is $99.88 and its 200-day simple moving average is $101.29.

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. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The firm had revenue of $237.00 million for the quarter, compared to analyst estimates of $235.26 million. During the same period last year, the company earned $1.47 EPS. The firm’s quarterly revenue was down 32.9% on a year-over-year basis. Equities research analysts expect that Synaptics Incorporated will post -0.48 EPS for the current year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction 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 transaction, the insider now owns 31,847 shares in the company, valued at approximately $3,367,820.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com upgraded Synaptics from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Needham & Company LLC increased their price objective on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Rosenblatt Securities lifted their target price on shares of Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Susquehanna increased their price target 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, KeyCorp lifted their price objective on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Synaptics has an average rating of “Moderate Buy” and a consensus target price of $125.36.

Synaptics 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.