Synaptics Incorporated (NASDAQ:SYNA) Insider Ken Rizvi Acquires 3,600 Shares

Synaptics Incorporated (NASDAQ:SYNA) insider Ken Rizvi purchased 3,600 shares of the stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Synaptics Stock Performance

Shares of SYNA traded down $1.23 on Tuesday, reaching $68.22. The company’s stock had a trading volume of 843,509 shares, compared to its average volume of 797,152. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The stock has a market capitalization of $2.73 billion, a P/E ratio of 16.13 and a beta of 1.45. The stock’s 50 day simple moving average is $79.49 and its two-hundred day simple moving average is $76.92. Synaptics Incorporated has a 12-month low of $67.16 and a 12-month high of $115.85.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after buying an additional 53,252 shares during the last quarter. Algert Global LLC raised its stake in Synaptics by 44.9% during the 3rd quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after acquiring an additional 15,750 shares during the period. BNP Paribas Financial Markets raised its stake in Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after acquiring an additional 42,101 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Synaptics by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after acquiring an additional 17,119 shares during the period. Finally, PDT Partners LLC bought a new stake in Synaptics during the 3rd quarter worth approximately $592,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SYNA shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Synaptics in a report on Tuesday, February 4th. TD Cowen lifted their target price on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities restated a “buy” rating and issued a $92.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Susquehanna increased their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.25.

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.