Penserra Capital Management LLC Sells 514 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Penserra Capital Management LLC lessened its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,739 shares of the software maker’s stock after selling 514 shares during the period. Penserra Capital Management LLC’s holdings in Synaptics were worth $3,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYNA. CANADA LIFE ASSURANCE Co grew its holdings in shares of Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after acquiring an additional 809,712 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after acquiring an additional 75,680 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Synaptics during the second quarter valued at approximately $941,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Synaptics in the second quarter valued at approximately $1,923,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYNA. JPMorgan Chase & Co. reduced their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen upped their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Susquehanna cut their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Rosenblatt Securities reduced their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.33.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Synaptics Trading Up 6.7 %

NASDAQ:SYNA opened at $81.65 on Tuesday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 20.67 and a beta of 1.47. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $74.10 and a 200 day moving average of $81.39.

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.