Ossiam Cuts Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Ossiam decreased its position in Synaptics Incorporated (NASDAQ:SYNA) by 39.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,220 shares of the software maker’s stock after selling 50,000 shares during the period. Ossiam’s holdings in Synaptics were worth $7,338,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Synaptics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock worth $419,691,000 after buying an additional 72,044 shares during the last quarter. Quantbot Technologies LP purchased a new position in Synaptics in the first quarter valued at about $586,000. UBS Group AG grew its position in shares of Synaptics by 26.8% during the 4th quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock valued at $12,031,000 after acquiring an additional 22,308 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after purchasing an additional 100,150 shares during the last quarter. Finally, Willner & Heller LLC bought a new stake in shares of Synaptics in the 4th quarter worth approximately $807,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

Shares of Synaptics stock traded down $0.20 during trading on Thursday, hitting $87.49. The stock had a trading volume of 290,332 shares, compared to its average volume of 284,561. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -32.51 and a beta of 1.47. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average is $91.02 and its 200 day moving average is $96.50. Synaptics Incorporated has a 12 month low of $73.38 and a 12 month high of $121.37.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $237.30 million during the quarter, compared to analyst estimates of $235.17 million. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. Synaptics’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Synaptics Incorporated will post -0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYNA shares. Wells Fargo & Company reduced their price objective on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. KeyCorp cut their price target on Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Needham & Company LLC decreased their price objective on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, TD Cowen dropped their price objective on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Synaptics presently has an average rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.