Connor Clark & Lunn Investment Management Ltd. Purchases 3,577 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 42.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,983 shares of the software maker’s stock after buying an additional 3,577 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Synaptics were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. TimesSquare Capital Management LLC raised its stake in Synaptics by 46.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock worth $40,170,000 after buying an additional 165,866 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Synaptics by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock worth $35,991,000 after buying an additional 23,702 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Synaptics by 210.0% during the fourth quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock worth $15,633,000 after buying an additional 138,748 shares during the last quarter. Rhumbline Advisers raised its stake in Synaptics by 2.1% during the fourth quarter. Rhumbline Advisers now owns 134,478 shares of the software maker’s stock worth $10,263,000 after buying an additional 2,752 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Synaptics by 0.4% during the fourth quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock worth $7,025,000 after buying an additional 333 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

Insider Activity

In other news, insider Ken Rizvi purchased 3,600 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Susquehanna lifted their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.88.

Synaptics Stock Down 1.4 %

Shares of NASDAQ SYNA opened at $64.74 on Friday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 15.31 and a beta of 1.56. The company has a 50-day moving average price of $72.97 and a 200-day moving average price of $74.85. Synaptics Incorporated has a 1 year low of $60.75 and a 1 year high of $102.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36.

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.