Petrus Trust Company LTA Buys New Shares in Synaptics Incorporated (NASDAQ:SYNA)

Petrus Trust Company LTA bought a new position in shares of Synaptics Incorporated (NASDAQ:SYNAFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,882 shares of the software maker’s stock, valued at approximately $844,000.

A number of other hedge funds also recently made changes to their positions in SYNA. Holocene Advisors LP grew its holdings in Synaptics by 51.2% during the 3rd quarter. Holocene Advisors LP now owns 47,837 shares of the software maker’s stock valued at $3,711,000 after buying an additional 16,193 shares in the last quarter. PDT Partners LLC bought a new position in shares of Synaptics during the 3rd quarter valued at approximately $592,000. Verition Fund Management LLC grew its holdings in shares of Synaptics by 108.3% in the third quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker’s stock valued at $437,000 after purchasing an additional 2,930 shares in the last quarter. BNP Paribas Financial Markets increased its position in Synaptics by 111.7% in the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after purchasing an additional 42,101 shares during the last quarter. Finally, Algert Global LLC increased its position in Synaptics by 44.9% in the third quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after purchasing an additional 15,750 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total transaction of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Synaptics Stock Performance

Shares of SYNA stock opened at $80.61 on Wednesday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 20.41 and a beta of 1.45. Synaptics Incorporated has a 52-week low of $67.83 and a 52-week high of $121.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $74.81 and its 200 day moving average is $80.84.

Analysts Set New Price Targets

A number of brokerages have commented on SYNA. JPMorgan Chase & Co. dropped their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum dropped their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Needham & Company LLC decreased their price objective on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Susquehanna lowered their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and an average target price of $97.33.

Check Out Our Latest Research Report on SYNA

About Synaptics

(Free Report)

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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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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