Petrus Trust Company LTA Takes Position in Synaptics Incorporated (NASDAQ:SYNA)

Petrus Trust Company LTA bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,882 shares of the software maker’s stock, valued at approximately $844,000.

Other hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC lifted its stake in shares of Synaptics by 44.9% during the third quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after buying an additional 15,750 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Synaptics by 15,571.4% in the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Synaptics during the second quarter worth about $941,000. Finally, Intech Investment Management LLC acquired a new position in Synaptics in the 2nd quarter worth approximately $1,923,000. 99.43% of the stock is owned by institutional investors and hedge funds.

Synaptics Trading Down 0.8 %

Shares of Synaptics stock opened at $80.61 on Wednesday. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a twelve month low of $67.83 and a twelve month high of $121.37. The firm has a market capitalization of $3.23 billion, a PE ratio of 20.41 and a beta of 1.45. The firm’s 50-day moving average price is $74.81 and its 200 day moving average price is $80.84.

Analyst Ratings Changes

SYNA has been the subject of several research reports. Susquehanna decreased their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Rosenblatt Securities decreased their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Craig Hallum decreased their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC dropped their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares of the company’s stock, valued at $3,459,600. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

About Synaptics

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.