Mitsubishi UFJ Asset Management Co. Ltd. Has $2.80 Million Stake in Synaptics Incorporated (NASDAQ:SYNA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 28.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,576 shares of the software maker’s stock after purchasing an additional 7,622 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Synaptics worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Synaptics during the third quarter worth $31,000. KBC Group NV grew its position in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after acquiring an additional 837 shares during the last quarter. XTX Topco Ltd acquired a new position in Synaptics in the 3rd quarter worth about $227,000. Cibc World Markets Corp bought a new position in Synaptics in the fourth quarter valued at about $283,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Synaptics during the fourth quarter valued at about $371,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Down 0.9 %

Synaptics stock opened at $63.17 on Wednesday. The company has a market capitalization of $2.48 billion, a PE ratio of 14.93 and a beta of 1.55. Synaptics Incorporated has a 12-month low of $60.75 and a 12-month high of $98.00. The firm’s fifty day moving average is $70.42 and its 200 day moving average is $74.34. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60.

Insider Activity

In other news, insider Ken Rizvi purchased 3,600 shares of the company’s stock in a transaction that occurred 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 purchase, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.