New York State Teachers Retirement System Has $3.26 Million Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

New York State Teachers Retirement System reduced its position in Synaptics Incorporated (NASDAQ:SYNA) by 5.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 42,706 shares of the software maker’s stock after selling 2,600 shares during the period. New York State Teachers Retirement System’s holdings in Synaptics were worth $3,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYNA. Louisiana State Employees Retirement System lifted its holdings in Synaptics by 1.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after acquiring an additional 200 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Synaptics by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker’s stock worth $352,000 after acquiring an additional 310 shares in the last quarter. Quarry LP bought a new position in Synaptics during the third quarter worth about $31,000. CWM LLC lifted its holdings in Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after acquiring an additional 423 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Synaptics by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker’s stock worth $4,671,000 after acquiring an additional 727 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYNA. Rosenblatt Securities reissued a “buy” rating and issued a $92.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Susquehanna lifted their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.25.

Synaptics Price Performance

NASDAQ:SYNA opened at $71.76 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The stock’s 50-day simple moving average is $78.00 and its 200 day simple moving average is $76.36. The company has a market cap of $2.81 billion, a P/E ratio of 16.96 and a beta of 1.45. Synaptics Incorporated has a 52-week low of $67.16 and a 52-week high of $109.00.

Insider Activity at Synaptics

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $69.15 per share, with a total value of $248,940.00. Following the completion of the transaction, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares in the company, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Synaptics Profile

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.