Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,963 shares of the software maker’s stock after selling 399 shares during the period. Inspire Advisors LLC’s holdings in Synaptics were worth $618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SYNA. Goldman Sachs Group Inc. boosted its stake in shares of Synaptics by 34.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after purchasing an additional 100,150 shares during the period. CWM LLC boosted its stake in shares of Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after purchasing an additional 139 shares during the period. Bridge City Capital LLC boosted its stake in shares of Synaptics by 0.8% in the first quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock valued at $1,863,000 after purchasing an additional 149 shares during the period. Cardinal Capital Management boosted its stake in shares of Synaptics by 26.3% in the first quarter. Cardinal Capital Management now owns 21,036 shares of the software maker’s stock valued at $2,052,000 after purchasing an additional 4,382 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in shares of Synaptics in the first quarter valued at approximately $76,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Down 2.3 %

SYNA stock opened at $71.05 on Friday. The company has a current ratio of 4.19, a quick ratio of 3.78 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 company’s 50 day moving average is $75.37 and its two-hundred day moving average is $84.22. The stock has a market cap of $2.84 billion, a P/E ratio of 22.92 and a beta of 1.46.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. Research analysts expect that Synaptics Incorporated will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SYNA shares. TD Cowen lowered their price objective on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum decreased their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Needham & Company LLC decreased their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by company insiders.

Synaptics 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.