Synaptics Incorporated (NASDAQ:SYNA) Insider Ken Rizvi Acquires 3,600 Shares

Synaptics Incorporated (NASDAQ:SYNA) insider Ken Rizvi acquired 3,600 shares of Synaptics stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Synaptics Stock Performance

NASDAQ SYNA traded down $1.23 during trading hours on Tuesday, reaching $68.22. The stock had a trading volume of 843,509 shares, compared to its average volume of 797,152. The stock has a fifty day moving average of $79.49 and a 200 day moving average of $76.92. The stock has a market cap of $2.73 billion, a P/E ratio of 16.13 and a beta of 1.45. Synaptics Incorporated has a 52-week low of $67.16 and a 52-week high of $115.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYNA. TD Cowen lifted their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Susquehanna lifted their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $92.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $95.25.

Hedge Funds Weigh In On Synaptics

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after buying an additional 53,252 shares in the last quarter. Algert Global LLC grew its position in shares of Synaptics by 44.9% during the 3rd quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock valued at $3,941,000 after acquiring an additional 15,750 shares during the period. BNP Paribas Financial Markets grew its position in shares of Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after acquiring an additional 42,101 shares during the period. 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 purchasing an additional 17,119 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Synaptics in the 3rd quarter worth about $592,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.