Pier 88 Investment Partners LLC Sells 1,010 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Pier 88 Investment Partners LLC reduced its stake in Synaptics Incorporated (NASDAQ:SYNA) by 9.1% in the 4th quarter, Holdings Channel reports. The firm owned 10,105 shares of the software maker’s stock after selling 1,010 shares during the period. Pier 88 Investment Partners LLC’s holdings in Synaptics were worth $771,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in SYNA. Charles Schwab Investment Management Inc. boosted its stake in Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after buying an additional 17,119 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Synaptics by 111.7% in the 3rd 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. Verition Fund Management LLC increased its position in shares of Synaptics by 108.3% during the 3rd quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker’s stock worth $437,000 after purchasing an additional 2,930 shares in the last quarter. PDT Partners LLC bought a new position in Synaptics during the 3rd quarter valued at about $592,000. Finally, Holocene Advisors LP boosted its position in Synaptics by 51.2% in the third 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. Institutional investors own 99.43% of the company’s stock.

Insider Buying and Selling at Synaptics

In other news, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the completion of the transaction, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYNA shares. Susquehanna raised their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Finally, Mizuho lowered their price objective on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Synaptics Stock Down 1.9 %

Shares of NASDAQ:SYNA opened at $63.06 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 14.91 and a beta of 1.55. The company has a 50 day moving average of $71.25 and a 200-day moving average of $74.48. Synaptics Incorporated has a one year low of $60.75 and a one year high of $99.57.

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.