BNP Paribas Financial Markets Increases Holdings in Synaptics Incorporated (NASDAQ:SYNA)

BNP Paribas Financial Markets raised its stake in Synaptics Incorporated (NASDAQ:SYNA) by 111.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,777 shares of the software maker’s stock after buying an additional 42,101 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.20% of Synaptics worth $6,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Point72 Asset Management L.P. raised its position in shares of Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after purchasing an additional 193,182 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after purchasing an additional 153,434 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in Synaptics by 56.0% in the 2nd quarter. Emerald Advisers LLC now owns 202,283 shares of the software maker’s stock valued at $17,841,000 after buying an additional 72,611 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYNA has been the subject of several research analyst reports. Needham & Company LLC lowered their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Rosenblatt Securities dropped their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Craig Hallum decreased their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, TD Cowen boosted their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Trading Down 0.8 %

SYNA opened at $80.61 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.41 and a beta of 1.45. The business has a fifty day moving average price of $74.81 and a 200 day moving average price of $80.84. Synaptics Incorporated has a 12 month low of $67.83 and a 12 month high of $121.37.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 2,731 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the sale, the insider now directly owns 43,245 shares in the company, valued at approximately $3,459,600. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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.