3,425 Shares in Synaptics Incorporated (NASDAQ:SYNA) Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA) during the third quarter, Holdings Channel reports. The fund purchased 3,425 shares of the software maker’s stock, valued at approximately $266,000.

A number of other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after acquiring an additional 17,119 shares in the last quarter. Intech Investment Management LLC increased its stake in Synaptics by 27.0% in the third quarter. Intech Investment Management LLC now owns 27,689 shares of the software maker’s stock valued at $2,148,000 after purchasing an additional 5,883 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Synaptics by 232.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,406 shares of the software maker’s stock valued at $652,000 after purchasing an additional 5,880 shares during the period. Pier 88 Investment Partners LLC boosted its position in shares of Synaptics by 28.2% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 11,115 shares of the software maker’s stock worth $862,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Synaptics by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after buying an additional 31,565 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Trading Up 6.7 %

NASDAQ:SYNA opened at $81.65 on Tuesday. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The firm has a 50-day moving average price of $74.10 and a two-hundred day moving average price of $81.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 20.67 and a beta of 1.47.

Analysts Set New Price Targets

Several brokerages have issued reports on SYNA. Needham & Company LLC cut their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Craig Hallum cut their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Susquehanna lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.33.

Insider Activity

In related news, insider Vikram Gupta sold 2,731 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the transaction, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. The trade was a 5.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.