Citigroup Inc. Purchases 83,414 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Citigroup Inc. lifted its position in shares of Synaptics Incorporated (NASDAQ:SYNAGet Rating) by 440.4% during the first quarter, Holdings Channel reports. The firm owned 102,355 shares of the software maker’s stock after acquiring an additional 83,414 shares during the period. Citigroup Inc.’s holdings in Synaptics were worth $20,420,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SYNA. Edmond DE Rothschild Holding S.A. bought a new stake in Synaptics in the fourth quarter worth about $39,000. Sageworth Trust Co of South Dakota bought a new stake in Synaptics in the fourth quarter worth about $43,000. San Luis Wealth Advisors LLC bought a new stake in Synaptics in the first quarter worth about $56,000. Cornerstone Advisory LLC bought a new stake in Synaptics in the fourth quarter worth about $58,000. Finally, Rockefeller Capital Management L.P. raised its position in Synaptics by 716.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 204 shares of the software maker’s stock worth $59,000 after acquiring an additional 179 shares during the period. 97.15% of the stock is owned by institutional investors.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $112.88 on Friday. The company has a 50 day moving average of $130.65 and a 200 day moving average of $159.50. The stock has a market cap of $4.47 billion, a P/E ratio of 17.83 and a beta of 1.46. Synaptics Incorporated has a 12 month low of $108.51 and a 12 month high of $299.39. The company has a current ratio of 3.03, a quick ratio of 2.66 and a debt-to-equity ratio of 0.77.

Synaptics (NASDAQ:SYNAGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The software maker reported $3.87 EPS for the quarter, beating the consensus estimate of $3.13 by $0.74. The company had revenue of $476.40 million during the quarter, compared to analysts’ expectations of $472.74 million. Synaptics had a net margin of 14.80% and a return on equity of 38.59%. Synaptics’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.60 earnings per share. As a group, sell-side analysts forecast that Synaptics Incorporated will post 10.15 EPS for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Saleel Awsare sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $133.58, for a total value of $534,320.00. Following the completion of the transaction, the insider now owns 38,608 shares of the company’s stock, valued at approximately $5,157,256.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Synaptics news, SVP John Mcfarland sold 8,188 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $137.09, for a total value of $1,122,492.92. Following the completion of the transaction, the senior vice president now owns 15,083 shares of the company’s stock, valued at approximately $2,067,728.47. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Saleel Awsare sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $133.58, for a total transaction of $534,320.00. Following the completion of the transaction, the insider now directly owns 38,608 shares of the company’s stock, valued at approximately $5,157,256.64. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on SYNA shares. Craig Hallum lowered their price objective on shares of Synaptics from $265.00 to $220.00 in a research report on Friday, May 6th. Summit Insights lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Mizuho reduced their target price on shares of Synaptics from $225.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Susquehanna Bancshares reduced their target price on shares of Synaptics from $200.00 to $185.00 in a research note on Friday, August 5th. Finally, KeyCorp reduced their target price on shares of Synaptics from $215.00 to $205.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $213.75.

Synaptics Profile

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Synaptics Incorporated develops, markets, and sells semiconductor product solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

Further Reading

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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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