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Deutsche Bank AG increased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,521 shares of the software maker’s stock after purchasing an additional 3,123 shares during the period. Deutsche Bank AG owned approximately 0.49% of Synaptics worth $12,267,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics during the first quarter worth $25,000. Parallel Advisors LLC grew its stake in shares of Synaptics by 151.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker’s stock worth $28,000 after purchasing an additional 269 shares during the period. Menard Financial Group LLC acquired a new position in Synaptics in the fourth quarter valued at about $37,000. Banque Cantonale Vaudoise acquired a new position in Synaptics in the first quarter valued at about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in Synaptics in the fourth quarter valued at about $72,000. 99.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SYNA has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on Synaptics in a research note on Friday, May 9th. They issued a “buy” rating and a $80.00 target price for the company. Wall Street Zen raised Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Synaptics currently has a consensus rating of “Buy” and a consensus target price of $94.00.
Read Our Latest Stock Report on SYNA
Synaptics Stock Performance
Shares of Synaptics stock opened at $68.03 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -56.22 and a beta of 1.61. The stock’s 50-day moving average is $65.41 and its 200-day moving average is $63.58. Synaptics Incorporated has a one year low of $41.80 and a one year high of $89.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26.
Synaptics (NASDAQ:SYNA – Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The software maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $282.80 million for the quarter, compared to analyst estimates of $280.12 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. Equities analysts predict that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.
Synaptics announced that its Board of Directors has approved a share repurchase plan on Thursday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Synaptics 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.
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