Cardinal Capital Management Raises Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Cardinal Capital Management grew its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,705 shares of the software maker’s stock after purchasing an additional 4,465 shares during the period. Cardinal Capital Management owned about 0.07% of Synaptics worth $2,072,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC increased its holdings in Synaptics by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock worth $217,000 after buying an additional 1,200 shares in the last quarter. Creative Planning grew its stake in shares of Synaptics by 113.4% in the third quarter. Creative Planning now owns 8,942 shares of the software maker’s stock worth $694,000 after acquiring an additional 4,752 shares during the period. Willner & Heller LLC grew its stake in shares of Synaptics by 87.2% in the third quarter. Willner & Heller LLC now owns 4,270 shares of the software maker’s stock worth $331,000 after acquiring an additional 1,989 shares during the period. CWM LLC raised its holdings in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares during the last quarter. Finally, Diversified Trust Co lifted its position in Synaptics by 6.7% during the third quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock valued at $310,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Wall Street Analyst Weigh In

SYNA has been the subject of a number of research analyst reports. TD Cowen cut their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reduced their price objective on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Craig Hallum reduced their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.44.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $72.70 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 23.45 and a beta of 1.46. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37. The firm’s 50 day simple moving average is $75.40 and its two-hundred day simple moving average is $84.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share 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 for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the previous year, the company earned $0.01 EPS. Synaptics’s revenue for the quarter was up 8.8% on a year-over-year basis. Research analysts expect that Synaptics Incorporated will post 0.81 EPS for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the completion of the transaction, the insider now directly owns 46,797 shares in the company, valued at $3,743,760. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by company insiders.

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.