New York State Teachers Retirement System decreased its position in Synaptics Inc. (NASDAQ:SYNA) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,138 shares of the company’s stock after selling 3,400 shares during the period. New York State Teachers Retirement System’s holdings in Synaptics were worth $3,609,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. LS Investment Advisors LLC increased its stake in shares of Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Synaptics during the second quarter worth about $241,000. Algert Global LLC purchased a new stake in shares of Synaptics during the first quarter worth about $262,000. Wealthsource Partners LLC purchased a new stake in shares of Synaptics during the first quarter worth about $268,000. Finally, Capstone Asset Management Co. increased its stake in shares of Synaptics by 22.5% in the second quarter. Capstone Asset Management Co. now owns 5,489 shares of the company’s stock worth $295,000 after buying an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Synaptics Inc. (NASDAQ:SYNA) traded up 1.73% on Friday, reaching $66.30. 877,239 shares of the company’s stock traded hands. The firm’s 50-day moving average is $58.12 and its 200 day moving average is $62.61. Synaptics Inc. has a 12 month low of $47.09 and a 12 month high of $94.48. The firm has a market cap of $2.31 billion, a PE ratio of 34.71 and a beta of 1.76.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The firm had revenue of $323.90 million for the quarter, compared to analysts’ expectations of $318.48 million. During the same period in the prior year, the business posted $1.57 earnings per share. The company’s revenue was down 32.4% on a year-over-year basis. Equities analysts predict that Synaptics Inc. will post $5.18 EPS for the current year.
A number of brokerages have issued reports on SYNA. JPMorgan Chase & Co. reiterated a “buy” rating and set a $71.00 price objective on shares of Synaptics in a research note on Wednesday, July 20th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Synaptics in a research note on Sunday, July 10th. Pacific Crest reiterated a “sector perform” rating on shares of Synaptics in a research note on Monday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target (down from $88.00) on shares of Synaptics in a research note on Friday, July 29th. Finally, Cowen and Company restated a “buy” rating on shares of Synaptics in a research note on Friday, June 17th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.33.
In other news, SVP John Mcfarland sold 2,778 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $60.00, for a total transaction of $166,680.00. Following the sale, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ritu Favre sold 3,259 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $53.09, for a total value of $173,020.31. Following the sale, the insider now owns 12,360 shares in the company, valued at $656,192.40. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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