Groupama Asset Managment Invests $38.16 Million in Synaptics Incorporated (NASDAQ:SYNA)

Groupama Asset Managment purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 500,000 shares of the software maker’s stock, valued at approximately $38,160,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Synaptics in the fourth quarter valued at about $43,481,000. TimesSquare Capital Management LLC boosted its holdings in Synaptics by 46.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock valued at $40,170,000 after purchasing an additional 165,866 shares during the period. Peregrine Capital Management LLC grew its position in shares of Synaptics by 210.0% during the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock worth $15,633,000 after purchasing an additional 138,748 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Synaptics by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock worth $42,483,000 after purchasing an additional 95,432 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Synaptics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after buying an additional 93,155 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Synaptics Stock Up 1.0 %

SYNA stock opened at $63.72 on Tuesday. The firm has a 50-day moving average price of $70.87 and a 200-day moving average price of $74.42. Synaptics Incorporated has a 12 month low of $60.75 and a 12 month high of $99.57. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.50 billion, a P/E ratio of 15.06 and a beta of 1.55.

Analysts Set New Price Targets

SYNA has been the topic of a number of recent research reports. Mizuho lowered their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. 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. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Susquehanna boosted their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Insider Buying and Selling

In other news, insider Ken Rizvi acquired 3,600 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $69.15 per share, with a total value of $248,940.00. Following the acquisition, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate 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.