Victory Capital Management Inc. Acquires 31,565 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Victory Capital Management Inc. lifted its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA) by 5.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 577,523 shares of the software maker’s stock after buying an additional 31,565 shares during the quarter. Victory Capital Management Inc.’s holdings in Synaptics were worth $44,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heron Bay Capital Management boosted its position in Synaptics by 1.3% during the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after buying an additional 116 shares during the period. US Bancorp DE boosted its position in Synaptics by 3.5% during the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after buying an additional 123 shares during the period. Russell Investments Group Ltd. boosted its position in Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock valued at $4,748,000 after buying an additional 163 shares during the period. Choreo LLC boosted its position in Synaptics by 3.9% during the 2nd quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock valued at $417,000 after buying an additional 180 shares during the period. Finally, Arizona State Retirement System boosted its position in Synaptics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock valued at $970,000 after buying an additional 229 shares during the period. Institutional investors own 99.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Susquehanna dropped their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Rosenblatt Securities dropped their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, TD Cowen raised their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Trading Down 0.8 %

Shares of NASDAQ SYNA opened at $74.64 on Friday. Synaptics Incorporated has a 1 year low of $67.83 and a 1 year high of $121.37. The stock has a market cap of $2.99 billion, a P/E ratio of 18.90 and a beta of 1.47. The firm has a 50-day moving average of $73.89 and a 200 day moving average of $82.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $149,600.00. Following the completion of the sale, the insider now directly owns 46,797 shares in the company, valued at approximately $3,743,760. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 5,609 shares of company stock valued at $448,720 in the last three months. Company insiders own 1.30% of the company’s stock.

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.