JPMorgan Chase & Co. Boosts Stake in Synaptics Incorporated (NASDAQ:SYNA)

JPMorgan Chase & Co. lifted its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 52.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 270,225 shares of the software maker’s stock after acquiring an additional 92,549 shares during the quarter. JPMorgan Chase & Co.’s holdings in Synaptics were worth $20,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SYNA. Verition Fund Management LLC increased its position in shares of Synaptics by 108.3% during the 3rd quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker’s stock valued at $437,000 after purchasing an additional 2,930 shares during the last quarter. Quarry LP purchased a new stake in Synaptics during the third quarter worth about $31,000. XTX Topco Ltd purchased a new stake in Synaptics during the third quarter worth about $227,000. Barclays PLC raised its position in Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after acquiring an additional 53,252 shares during the period. Finally, Profit Investment Management LLC boosted its stake in Synaptics by 8.9% in the fourth quarter. Profit Investment Management LLC now owns 24,716 shares of the software maker’s stock valued at $1,886,000 after acquiring an additional 2,029 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYNA. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research report on Thursday, February 27th. Mizuho dropped their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Susquehanna increased their price target on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Insider Activity

In other news, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Synaptics Stock Performance

Shares of SYNA opened at $47.46 on Friday. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The stock’s 50-day simple moving average is $64.21 and its 200 day simple moving average is $72.77. 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 has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.22 and a beta of 1.60.

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.