MetLife Investment Management LLC Cuts Stock Position in Synaptics Incorporated (NASDAQ:SYNA)

MetLife Investment Management LLC lowered its stake in Synaptics Incorporated (NASDAQ:SYNA) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,136 shares of the software maker’s stock after selling 370 shares during the period. MetLife Investment Management LLC’s holdings in Synaptics were worth $3,269,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYNA. GAMMA Investing LLC grew its stake in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after buying an additional 267 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics in the 2nd quarter worth approximately $67,000. Innealta Capital LLC bought a new position in Synaptics in the 2nd quarter valued at approximately $83,000. CWM LLC lifted its position in Synaptics by 58.1% in the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Synaptics in the 3rd quarter valued at approximately $132,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Vikram Gupta sold 2,731 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the transaction, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Rosenblatt Securities lowered their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. TD Cowen upped their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Craig Hallum lowered their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Price Performance

NASDAQ SYNA opened at $80.61 on Wednesday. The business’s fifty day moving average price is $74.81 and its 200-day moving average price is $80.84. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.41 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. Synaptics Incorporated has a 1-year low of $67.83 and a 1-year high of $121.37.

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.