Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in Synaptics Incorporated (NASDAQ:SYNA) by 47.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 660,729 shares of the software maker’s stock after selling 594,017 shares during the quarter. Alliancebernstein L.P.’s holdings in Synaptics were worth $50,427,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SYNA. Wellington Management Group LLP raised its position in Synaptics by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock worth $42,483,000 after buying an additional 95,432 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Synaptics in the 4th quarter valued at $31,000. Norges Bank purchased a new position in shares of Synaptics during the 4th quarter worth $43,481,000. JPMorgan Chase & Co. lifted its stake in shares of Synaptics by 52.1% during the 4th quarter. JPMorgan Chase & Co. now owns 270,225 shares of the software maker’s stock worth $20,624,000 after purchasing an additional 92,549 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Synaptics by 28.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,576 shares of the software maker’s stock worth $2,801,000 after purchasing an additional 7,622 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the purchase, the insider now directly owns 27,630 shares in the company, valued at approximately $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 is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYNA. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Susquehanna lifted their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Mizuho dropped their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.00.

Synaptics Trading Down 7.3 %

SYNA opened at $48.25 on Friday. The stock has a market capitalization of $1.89 billion, a PE ratio of 11.41 and a beta of 1.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. Synaptics Incorporated has a 12-month low of $45.86 and a 12-month high of $98.00. The firm’s fifty day moving average price is $68.66 and its 200 day moving average price is $73.92.

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.