Alliancebernstein L.P. Reduces Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

Alliancebernstein L.P. cut its stake in Synaptics Incorporated (NASDAQ:SYNA) by 47.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 660,729 shares of the software maker’s stock after selling 594,017 shares during the quarter. Alliancebernstein L.P. owned about 1.65% of Synaptics worth $50,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System grew its holdings in Synaptics by 1.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after acquiring an additional 200 shares during the last quarter. State of Michigan Retirement System boosted its position in Synaptics by 2.1% in the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after purchasing an additional 200 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after buying an additional 200 shares during the last quarter. Bridge City Capital LLC grew its position in Synaptics by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after buying an additional 201 shares during the period. Finally, Inspire Advisors LLC increased its holdings in Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock valued at $624,000 after buying an additional 212 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

Synaptics Stock Performance

NASDAQ SYNA opened at $48.25 on Friday. Synaptics Incorporated has a fifty-two week low of $45.86 and a fifty-two week high of $98.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The firm has a market capitalization of $1.89 billion, a P/E ratio of 11.41 and a beta of 1.60. The stock has a 50-day simple moving average of $68.66 and a two-hundred day simple moving average of $73.92.

Analysts Set New Price Targets

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

Insider Buying and Selling at Synaptics

In related news, insider Ken Rizvi acquired 3,600 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now directly owns 27,630 shares in the company, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

About Synaptics

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.