Retirement Systems of Alabama Trims Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Retirement Systems of Alabama decreased its position in Synaptics Incorporated (NASDAQ:SYNA) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,481 shares of the software maker’s stock after selling 769 shares during the period. Retirement Systems of Alabama owned 0.15% of Synaptics worth $4,692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC grew its position in Synaptics by 44.9% in the third quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after acquiring an additional 15,750 shares during the period. Point72 Asset Management L.P. increased its position in shares of Synaptics by 15,571.4% during the 2nd 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. BNP Paribas Financial Markets raised its holdings in Synaptics by 111.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after buying an additional 42,101 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Synaptics in the second quarter valued at about $941,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SYNA has been the topic of a number of research analyst reports. Needham & Company LLC reduced their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Rosenblatt Securities cut their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen raised 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. Susquehanna cut their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Finally, KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Stock Down 2.3 %

SYNA stock opened at $74.78 on Friday. Synaptics Incorporated has a fifty-two week low of $67.83 and a fifty-two week high of $121.37. The company’s 50 day moving average price is $75.79 and its 200 day moving average price is $79.94. 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 capitalization of $3.00 billion, a price-to-earnings ratio of 18.93 and a beta of 1.45.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the transaction, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.