Deroy & Devereaux Private Investment Counsel Inc. Boosts Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

by · The Markets Daily

Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 192,003 shares of the software maker’s stock after buying an additional 14,181 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.49% of Synaptics worth $14,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Synaptics during the 2nd quarter worth about $67,000. Innealta Capital LLC purchased a new stake in Synaptics during the 2nd quarter worth about $83,000. CWM LLC increased its holdings in Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Synaptics during the 2nd quarter worth about $141,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Needham & Company LLC cut their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. TD Cowen cut their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Susquehanna lowered their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Craig Hallum lowered their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and an average target price of $101.00.

Read Our Latest Analysis on SYNA

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $80.00, for a total transaction of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares of the company’s stock, valued at $3,459,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,609 shares of company stock valued at $448,720 in the last ninety days. Insiders own 1.30% of the company’s stock.

Synaptics Stock Down 5.5 %

Shares of NASDAQ SYNA opened at $68.67 on Friday. The stock has a market cap of $2.74 billion, a PE ratio of 22.15 and a beta of 1.46. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a 52-week low of $67.83 and a 52-week high of $121.37. The business has a 50-day moving average price of $74.87 and a 200 day moving average price of $83.00.

Synaptics (NASDAQ:SYNA – Get Free Report) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Equities research analysts forecast that Synaptics Incorporated will post 0.81 earnings per share for the current year.

Synaptics Company Profile

(Free Report)

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.

See Also

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