The Manufacturers Life Insurance Company trimmed its stake in Synaptics Incorporated (NASDAQ:SYNA) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,783 shares of the software maker’s stock after selling 1,504 shares during the quarter. The Manufacturers Life Insurance Company owned 0.22% of Synaptics worth $3,918,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of Synaptics by 16.0% in the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock worth $261,064,000 after purchasing an additional 697,328 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Synaptics by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock worth $218,630,000 after purchasing an additional 110,567 shares during the last quarter. BlackRock Inc. raised its stake in shares of Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after purchasing an additional 4,182,029 shares during the last quarter. State Street Corp raised its stake in shares of Synaptics by 0.6% in the second quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock worth $67,921,000 after purchasing an additional 8,390 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Synaptics by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,088,970 shares of the software maker’s stock worth $56,312,000 after purchasing an additional 94,143 shares during the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. The company had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The firm’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS.
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Several research firms have recently weighed in on SYNA. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target (down previously from $65.00) on shares of Synaptics in a research note on Friday, August 4th. CIBC restated an “underperform” rating and issued a $35.00 price target (down previously from $45.00) on shares of Synaptics in a research note on Tuesday, August 22nd. Zacks Investment Research cut Synaptics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub cut Synaptics from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Craig Hallum upgraded Synaptics from a “hold” rating to a “buy” rating and decreased their price target for the stock from $62.00 to $55.00 in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.26.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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