Virginia Retirement Systems ET AL acquired a new stake in Synaptics Inc. (NASDAQ:SYNA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,900 shares of the company’s stock, valued at approximately $371,000.
Other hedge funds have also recently made changes to their positions in the company. Capital Fund Management S.A. purchased a new stake in shares of Synaptics during the second quarter valued at $13,155,000. Cambiar Investors LLC increased its position in Synaptics by 6.0% in the second quarter. Cambiar Investors LLC now owns 613,223 shares of the company’s stock valued at $32,961,000 after buying an additional 34,827 shares during the period. Norges Bank bought a new position in Synaptics during the fourth quarter valued at approximately $33,908,000. Americafirst Capital Management LLC bought a new position in Synaptics during the second quarter valued at approximately $241,000. Finally, 1st Global Advisors Inc. increased its position in Synaptics by 9.7% in the second quarter. 1st Global Advisors Inc. now owns 8,874 shares of the company’s stock valued at $477,000 after buying an additional 784 shares during the period. 89.77% of the stock is currently owned by institutional investors.
Shares of Synaptics Inc. (NASDAQ:SYNA) opened at 66.30 on Friday. Synaptics Inc. has a 52 week low of $47.09 and a 52 week high of $94.48. The firm has a market capitalization of $2.31 billion, a PE ratio of 34.71 and a beta of 1.76. The company’s 50 day moving average price is $58.12 and its 200-day moving average price is $62.61.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.46. The business had revenue of $323.90 million for the quarter, compared to the consensus estimate of $318.48 million. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The firm’s quarterly revenue was down 32.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 earnings per share. On average, equities research analysts expect that Synaptics Inc. will post $5.18 EPS for the current fiscal year.
Several equities analysts recently commented on SYNA shares. Pacific Crest restated a “sector perform” rating on shares of Synaptics in a research report on Monday, August 29th. Zacks Investment Research downgraded Synaptics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Synaptics in a research report on Sunday, July 10th. JPMorgan Chase & Co. restated a “buy” rating and set a $71.00 target price on shares of Synaptics in a research report on Wednesday, July 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price (down previously from $88.00) on shares of Synaptics in a research report on Friday, July 29th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $76.33.
In other Synaptics news, SVP John Mcfarland sold 2,778 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $60.00, for a total transaction of $166,680.00. Following the completion of the sale, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $58.29, for a total value of $582,900.00. Following the sale, the insider now owns 82,491 shares of the company’s stock, valued at $4,808,400.39. The disclosure for this sale can be found here. Corporate 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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