Wellington Management Group LLP Grows Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Wellington Management Group LLP lifted its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 20.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 556,643 shares of the software maker’s stock after buying an additional 95,432 shares during the quarter. Wellington Management Group LLP’s holdings in Synaptics were worth $42,483,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Synaptics in the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Synaptics in the fourth quarter worth about $31,000. KBC Group NV grew its stake in shares of Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after buying an additional 837 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Synaptics during the 3rd quarter valued at about $227,000. Finally, Cibc World Markets Corp acquired a new position in Synaptics during the 4th quarter worth approximately $283,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Insider Buying and Selling at Synaptics

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. 1.30% of the stock is currently owned by insiders.

Synaptics Stock Performance

Shares of Synaptics stock opened at $48.25 on Friday. The firm has a market cap of $1.89 billion, a PE ratio of 11.41 and a beta of 1.60. Synaptics Incorporated has a 1 year low of $45.86 and a 1 year high of $98.00. The firm’s 50-day simple moving average is $68.66 and its 200-day simple moving average is $73.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

Analyst Upgrades and Downgrades

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

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.