Keene & Associates Inc. Boosts Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Keene & Associates Inc. raised its stake in Synaptics Incorporated (NASDAQ:SYNA) by 17.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,285 shares of the software maker’s stock after acquiring an additional 485 shares during the quarter. Keene & Associates Inc.’s holdings in Synaptics were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC increased its holdings in Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics in the second quarter worth about $67,000. Register Financial Advisors LLC bought a new stake in shares of Synaptics in the first quarter valued at approximately $76,000. Innealta Capital LLC purchased a new stake in shares of Synaptics during the 2nd quarter valued at approximately $83,000. Finally, nVerses Capital LLC bought a new position in Synaptics in the 2nd quarter worth approximately $141,000. 99.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYNA shares. Craig Hallum lowered their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. KeyCorp cut their target price on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. TD Cowen decreased their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC decreased their target price on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.44.

Synaptics Stock Performance

NASDAQ:SYNA opened at $74.57 on Monday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -27.52 and a beta of 1.47. The business has a 50 day moving average of $80.66 and a 200 day moving average of $88.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same quarter last year, the firm earned $0.01 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the transaction, the insider now directly owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 3,394 shares of company stock worth $275,691 in the last ninety days. 1.20% of the stock is owned by company insiders.

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.