California State Teachers Retirement System Lowers Stake in Synaptics Incorporated (SYNA)

California State Teachers Retirement System Lowers Stake in Synaptics Incorporated (SYNA)

California State Teachers Retirement System reduced its stake in Synaptics Incorporated (NASDAQ:SYNA) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,346 shares of the company’s stock after selling 3,600 shares during the period. California State Teachers Retirement System owned 0.21% of Synaptics worth $4,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SYNA. Vanguard Group Inc. raised its stake in Synaptics by 8.2% in the second quarter. Vanguard Group Inc. now owns 3,468,543 shares of the company’s stock worth $186,435,000 after buying an additional 263,781 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Synaptics by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 3,322,104 shares of the company’s stock worth $194,609,000 after buying an additional 153,815 shares in the last quarter. BlackRock Fund Advisors raised its stake in Synaptics by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,941,137 shares of the company’s stock worth $104,336,000 after buying an additional 55,284 shares in the last quarter. State Street Corp raised its stake in Synaptics by 2.1% in the second quarter. State Street Corp now owns 1,295,662 shares of the company’s stock worth $69,640,000 after buying an additional 26,961 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Synaptics by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,070,840 shares of the company’s stock worth $57,558,000 after buying an additional 16,830 shares in the last quarter. Institutional investors own 92.33% of the company’s stock.

Synaptics Incorporated (NASDAQ:SYNA) traded down 6.50% during midday trading on Friday, hitting $54.36. 2,017,000 shares of the stock traded hands. Synaptics Incorporated has a 12 month low of $47.09 and a 12 month high of $90.91. The company’s 50 day moving average price is $55.14 and its 200 day moving average price is $56.49. The firm has a market cap of $1.92 billion, a PE ratio of 50.06 and a beta of 1.37.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, January 26th. The company reported $1.49 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.20. The firm had revenue of $461.30 million for the quarter. Synaptics had a return on equity of 14.05% and a net margin of 2.54%. Synaptics’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities research analysts predict that Synaptics Incorporated will post $4.79 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on SYNA. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Synaptics in a report on Friday, October 7th. Oppenheimer Holdings, Inc. reaffirmed an “underperform” rating and set a $67.50 price target on shares of Synaptics in a report on Monday, December 12th. Cann reaffirmed an “underperform” rating and set a $45.00 price target on shares of Synaptics in a report on Tuesday, January 24th. Zacks Investment Research downgraded shares of Synaptics from a “hold” rating to a “strong sell” rating in a report on Thursday, November 3rd. Finally, Mizuho raised shares of Synaptics from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $74.00 in a report on Thursday, October 13th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Synaptics has an average rating of “Hold” and a consensus target price of $67.73.

In related news, insider Kevin D. Barber sold 13,594 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $52.21, for a total value of $709,742.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Wajid Ali sold 2,233 shares of the company’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $59.08, for a total value of $131,925.64. Following the completion of the sale, the vice president now owns 18,400 shares in the company, valued at approximately $1,087,072. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,669 shares of company stock worth $2,266,577. 3.60% of the stock is owned by insiders.

About Synaptics

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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