Meridian Wealth Management LLC Purchases New Position in Synaptics Incorporated (NASDAQ:SYNA)

Meridian Wealth Management LLC purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,425 shares of the software maker’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Synaptics by 261.8% in the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics in the 2nd quarter valued at $67,000. Innealta Capital LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth $83,000. CWM LLC increased its position in shares of Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Synaptics in the third quarter valued at about $132,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the company’s 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 sale, the insider now owns 43,245 shares in the company, valued at approximately $3,459,600. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYNA shares. Needham & Company LLC reduced their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Craig Hallum decreased their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Rosenblatt Securities cut their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. TD Cowen boosted their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Susquehanna reduced their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Stock Performance

NASDAQ:SYNA opened at $81.65 on Tuesday. The stock’s 50-day moving average is $74.10 and its 200-day moving average is $81.39. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The stock has a market cap of $3.27 billion, a P/E ratio of 20.67 and a beta of 1.47.

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.