Engineers Gate Manager LP increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 186.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,192 shares of the software maker’s stock after purchasing an additional 57,402 shares during the quarter. Engineers Gate Manager LP owned approximately 0.26% of Synaptics worth $3,455,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in shares of Synaptics by 16.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock worth $261,064,000 after purchasing an additional 697,328 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Synaptics by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock worth $218,630,000 after purchasing an additional 110,567 shares in the last quarter. State Street Corp increased its position in shares of Synaptics by 0.6% during the 2nd quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock worth $67,921,000 after purchasing an additional 8,390 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Synaptics by 2.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock worth $64,366,000 after purchasing an additional 27,878 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Synaptics by 35.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 1,232,000 shares of the software maker’s stock worth $48,270,000 after purchasing an additional 321,537 shares in the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.
A number of equities research analysts recently issued reports on SYNA shares. Cowen set a $60.00 target price on shares of Synaptics and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Stifel Nicolaus restated a “buy” rating on shares of Synaptics in a research report on Thursday, September 14th. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Thursday, August 31st. J P Morgan Chase & Co set a $53.00 price objective on shares of Synaptics and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Craig Hallum restated a “buy” rating and issued a $43.00 price objective (down previously from $55.00) on shares of Synaptics in a research report on Wednesday, November 8th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Synaptics has an average rating of “Hold” and a consensus target price of $48.03.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Tuesday, November 7th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.46. The company had revenue of $417.40 million for the quarter, compared to analyst estimates of $398.68 million. Synaptics had a net margin of 1.06% and a return on equity of 15.85%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. equities research analysts forecast that Synaptics Incorporated will post 2.8 earnings per share for the current fiscal year.
In other news, CFO Wajid Ali sold 2,918 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $41.75, for a total value of $121,826.50. Following the transaction, the chief financial officer now owns 27,281 shares of the company’s stock, valued at approximately $1,138,981.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick Bergman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now directly owns 130,307 shares in the company, valued at approximately $5,212,280. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
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Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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