CWC Advisors LLC. Buys New Shares in Synaptics Incorporated (NASDAQ:SYNA)

CWC Advisors LLC. purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,826 shares of the software maker’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. grew its position in Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after acquiring an additional 809,712 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Synaptics by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after purchasing an additional 193,182 shares during the last quarter. Victory Capital Management Inc. raised its position in Synaptics by 39.1% in the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after purchasing an additional 153,434 shares during the period. Westfield Capital Management Co. LP bought a new stake in Synaptics in the first quarter worth $13,065,000. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Stock Performance

Shares of SYNA stock opened at $72.14 on Friday. The company’s fifty day moving average price is $75.09 and its 200-day moving average price is $83.47. The stock has a market cap of $2.85 billion, a PE ratio of -26.62 and a beta of 1.46. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a 12 month low of $67.83 and a 12 month high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same period last year, the company posted $0.01 EPS. Synaptics’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that Synaptics Incorporated will post 0.81 EPS for the current fiscal year.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares in the company, valued at approximately $3,459,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 5,609 shares of company stock worth $448,720 over the last quarter. 1.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Susquehanna lowered their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. TD Cowen lowered their price target on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum dropped their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.00.

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.