Penserra Capital Management LLC Trims Stake in Synaptics Incorporated (NASDAQ:SYNA)

by · The Markets Daily

Penserra Capital Management LLC cut its holdings in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,739 shares of the software maker’s stock after selling 514 shares during the period. Penserra Capital Management LLC owned 0.11% of Synaptics worth $3,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC raised its holdings in Synaptics by 15.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,219 shares of the software maker’s stock worth $216,000 after purchasing an additional 301 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after acquiring an additional 6,276 shares during the period. Comerica Bank grew its stake in shares of Synaptics by 140.6% during the 1st quarter. Comerica Bank now owns 40,995 shares of the software maker’s stock valued at $3,999,000 after acquiring an additional 23,959 shares during the period. Profit Investment Management LLC raised its stake in Synaptics by 28.0% during the 2nd quarter. Profit Investment Management LLC now owns 32,962 shares of the software maker’s stock worth $2,907,000 after acquiring an additional 7,202 shares during the period. Finally, Cardinal Capital Management raised its stake in Synaptics by 5.7% during the 2nd quarter. Cardinal Capital Management now owns 22,240 shares of the software maker’s stock worth $1,962,000 after acquiring an additional 1,204 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Performance

NASDAQ SYNA opened at $81.65 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The business has a 50 day simple moving average of $74.10 and a two-hundred day simple moving average of $81.39. The stock has a market capitalization of $3.27 billion, a PE ratio of 20.67 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYNA. Rosenblatt Securities reduced their price objective on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 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 report on Monday, October 21st. Craig Hallum cut their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Check Out Our Latest Stock Report on Synaptics

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction 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 owns 43,245 shares in the company, valued at $3,459,600. This trade represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.

Synaptics Profile

(Free Report)

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.

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