Bank of New York Mellon Corp raised its stake in shares of Synaptics Inc. (NASDAQ:SYNA) by 12.8% during the third quarter, Holdings Channel reports. The institutional investor owned 510,619 shares of the company’s stock after buying an additional 57,866 shares during the period. Bank of New York Mellon Corp’s holdings in Synaptics were worth $29,911,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Sandy Spring Bank increased its stake in shares of Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock valued at $105,000 after buying an additional 100 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Synaptics by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares in the last quarter. 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 valued at $117,000 after buying an additional 900 shares in the last quarter. Orinda Asset Management LLC acquired a new stake in shares of Synaptics during the third quarter valued at about $129,000. Finally, Kempen Capital Management N.V. acquired a new stake in shares of Synaptics during the second quarter valued at about $148,000. 92.27% of the stock is owned by institutional investors and hedge funds.
Synaptics Inc. (NASDAQ:SYNA) traded down 2.85% on Wednesday, reaching $54.24. The company’s stock had a trading volume of 126,916 shares. The stock’s 50 day moving average price is $54.76 and its 200 day moving average price is $56.37. The firm has a market cap of $1.89 billion, a PE ratio of 38.66 and a beta of 1.38. Synaptics Inc. has a 52-week low of $47.09 and a 52-week high of $90.91.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by $0.03. The business earned $386.20 million during the quarter, compared to the consensus estimate of $372.65 million. Synaptics had a net margin of 3.29% and a return on equity of 15.27%. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.49 EPS. Equities research analysts expect that Synaptics Inc. will post $4.86 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the company. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Synaptics in a report on Thursday, December 15th. Mizuho raised 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. Zacks Investment Research downgraded Synaptics from a “hold” rating to a “strong sell” rating in a report on Thursday, November 3rd. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $75.00 price target on shares of Synaptics in a report on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $70.68.
In other news, insider Kevin D. Barber sold 13,594 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $52.21, for a total transaction of $709,742.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Wajid Ali sold 2,233 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 18,400 shares in the company, valued at approximately $1,087,072. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
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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