PDT Partners LLC Takes Position in Synaptics Incorporated (NASDAQ:SYNA)

PDT Partners LLC bought a new position in Synaptics Incorporated (NASDAQ:SYNA) during the third quarter, according to its most recent filing with the SEC. The firm bought 7,629 shares of the software maker’s stock, valued at approximately $592,000.

Several other hedge funds have also bought and sold shares of SYNA. Verition Fund Management LLC raised its holdings in Synaptics by 108.3% during the third quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker’s stock worth $437,000 after buying an additional 2,930 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Synaptics by 111.7% during the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after acquiring an additional 42,101 shares in the last quarter. Algert Global LLC raised its holdings in shares of Synaptics by 44.9% in the 3rd quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after acquiring an additional 15,750 shares during the last quarter. Meridian Wealth Management LLC bought a new position in Synaptics in the 3rd quarter valued at about $266,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Synaptics by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after purchasing an additional 17,119 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Insider Buying and Selling

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

Synaptics Stock Performance

Shares of SYNA stock opened at $81.26 on Tuesday. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37. The firm’s 50-day simple moving average is $74.67 and its two-hundred day simple moving average is $80.94. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 20.57 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

Analysts Set New Price Targets

SYNA has been the subject of several analyst reports. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Craig Hallum reduced their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Needham & Company LLC dropped their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, TD Cowen upped their price objective 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

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.