Synaptics Incorporated (NASDAQ:SYNA) Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 15.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,769 shares of the software maker’s stock after purchasing an additional 5,472 shares during the period. Wells Fargo & Company MN’s holdings in Synaptics were worth $3,111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Synaptics during the fourth quarter valued at $31,000. KBC Group NV boosted its stake in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares during the period. Cibc World Markets Corp bought a new position in Synaptics in the 4th quarter worth about $283,000. Raymond James Financial Inc. acquired a new stake in shares of Synaptics in the fourth quarter valued at approximately $371,000. Finally, Xponance Inc. raised its holdings in shares of Synaptics by 7.2% during the fourth quarter. Xponance Inc. now owns 5,703 shares of the software maker’s stock valued at $435,000 after buying an additional 382 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Susquehanna increased their price objective on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. 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. Rosenblatt Securities restated a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Finally, Mizuho dropped their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Synaptics Price Performance

NASDAQ:SYNA opened at $53.02 on Thursday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $60.11 and its 200 day moving average price is $71.13. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The firm has a market cap of $2.08 billion, a P/E ratio of 12.53 and a beta of 1.60.

Insider Activity

In related news, insider Ken Rizvi purchased 3,600 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average price of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

About Synaptics

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.