Key Points
- Synaptics insider Vikram Gupta sold 4,277 shares at an average price of $103.65, totaling $443,311.05. The sale, made under a Rule 10b5-1 plan to cover tax obligations from vested equity awards, reduced his holdings by 3.97% to 103,468 shares.
- Synaptics shares opened at $100.98 after declining 3.7%; the stock has traded between $58.28 and $149.11 over the past year. The company recently reported quarterly EPS of $1.23 and revenue of $308 million, both slightly above analyst expectations.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $123.91. Institutional investors own approximately 99.43% of Synaptics’ outstanding shares.
Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) insider Esther Song sold 437 shares of Synaptics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the sale, the insider owned 14,683 shares of the company's stock, valued at approximately $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Esther Song also recently made the following trade(s):
- On Thursday, June 18th, Esther Song sold 126 shares of Synaptics stock. The shares were sold at an average price of $138.28, for a total value of $17,423.28.
- On Thursday, May 28th, Esther Song sold 8,833 shares of Synaptics stock. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61.
Synaptics Trading Down 3.7%
SYNA opened at $100.98 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.95 billion, a PE ratio of -7.98 and a beta of 1.99. The company has a fifty day moving average of $118.98 and a 200-day moving average of $103.30. Synaptics Incorporated has a twelve month low of $58.28 and a twelve month high of $149.11.
Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter last year, the firm posted $1.01 EPS. The company's quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts predict that Synaptics Incorporated will post 1.98 EPS for the current year.
Institutional Trading of Synaptics
Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Synaptics by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker's stock worth $5,780,000 after purchasing an additional 4,917 shares during the period. M&T Bank Corp bought a new stake in Synaptics during the second quarter valued at $205,000. First Trust Advisors LP grew its position in Synaptics by 9.8% during the second quarter. First Trust Advisors LP now owns 60,393 shares of the software maker's stock worth $3,915,000 after buying an additional 5,393 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Synaptics by 472.1% in the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker's stock valued at $5,801,000 after acquiring an additional 73,848 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Synaptics by 9.1% during the second quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker's stock worth $1,514,000 after purchasing an additional 1,939 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SYNA has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Synaptics from $160.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Wall Street Zen raised Synaptics from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Northland Securities downgraded shares of Synaptics from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Rosenblatt Securities lowered their target price on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Synaptics from $100.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.91.
Read Our Latest Research Report on Synaptics
Synaptics Company Profile
(
Get Free Report)
Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.
Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
