Synaptics Incorporated (NASDAQ:SYNA) Short Interest Update

Synaptics Incorporated (NASDAQ:SYNA) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,160,000 shares, a growth of 24.9% from the November 15th total of 3,330,000 shares. Based on an average daily volume of 429,900 shares, the days-to-cover ratio is currently 9.7 days.

Synaptics Stock Up 0.6 %

SYNA stock traded up $0.46 during midday trading on Friday, hitting $79.46. The company’s stock had a trading volume of 830,106 shares, compared to its average volume of 655,520. The firm has a 50-day simple moving average of $75.49 and a 200-day simple moving average of $80.29. The firm has a market capitalization of $3.18 billion, a P/E ratio of 20.12 and a beta of 1.45. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares in the company, valued at approximately $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of Synaptics by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after buying an additional 193,182 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Synaptics by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after acquiring an additional 31,643 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Synaptics by 15,571.4% in 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 purchasing an additional 809,712 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Synaptics by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after purchasing an additional 31,565 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Synaptics by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after purchasing an additional 17,119 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SYNA shares. Rosenblatt Securities lowered their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Susquehanna lowered their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Needham & Company LLC reduced their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. TD Cowen increased their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Company 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.