Synaptics Incorporated (NASDAQ:SYNA) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its position in Synaptics Incorporated (NASDAQ:SYNA) by 20.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,643 shares of the software maker’s stock after acquiring an additional 95,432 shares during the period. Wellington Management Group LLP owned approximately 1.39% of Synaptics worth $42,483,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Synaptics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after purchasing an additional 93,155 shares during the last quarter. Norges Bank purchased a new stake in shares of Synaptics in the 4th quarter worth about $43,481,000. TimesSquare Capital Management LLC grew its stake in Synaptics by 46.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock valued at $40,170,000 after acquiring an additional 165,866 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Synaptics by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock valued at $35,991,000 after acquiring an additional 23,702 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Synaptics by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 270,225 shares of the software maker’s stock worth $20,624,000 after acquiring an additional 92,549 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. 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 research note on Monday, March 24th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Susquehanna upped their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Synaptics Stock Down 7.3 %

Shares of NASDAQ:SYNA opened at $48.25 on Friday. Synaptics Incorporated has a 12-month low of $45.86 and a 12-month high of $98.00. The stock’s 50-day moving average price is $68.66 and its two-hundred day moving average price is $73.90. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.41 and a beta of 1.60.

Insider Buying and Selling

In other news, insider Ken Rizvi bought 3,600 shares of the business’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 transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This represents a 14.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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.