TimesSquare Capital Management LLC Sells 24,203 Shares of Synaptics Incorporated (NASDAQ:SYNA)

TimesSquare Capital Management LLC cut its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 6.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 360,469 shares of the software maker’s stock after selling 24,203 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Synaptics were worth $27,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics during the second quarter worth $67,000. Innealta Capital LLC bought a new stake in shares of Synaptics in the second quarter valued at about $83,000. CWM LLC grew its stake in shares of Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Synaptics during the third quarter worth about $132,000. Institutional investors own 99.43% of the company’s stock.

Analyst Ratings Changes

SYNA has been the topic of several recent research reports. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna lowered their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Rosenblatt Securities cut their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday. Needham & Company LLC decreased their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Craig Hallum dropped their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Synaptics presently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Performance

Shares of Synaptics stock opened at $80.92 on Friday. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $73.79 and a 200-day moving average price of $82.45. The company has a market cap of $3.23 billion, a PE ratio of 20.49 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 16.14% and a return on equity of 1.34%. The business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same period in the previous year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $80.00, for a total transaction of $218,480.00. Following the completion of the transaction, the insider now directly owns 43,245 shares of the company’s stock, valued at $3,459,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,609 shares of company stock worth $448,720 in the last ninety days. 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.