HGK Asset Management Inc. Lowers Holdings in Synaptics, Incorporated (SYNA)

HGK Asset Management Inc. lowered its position in shares of Synaptics, Incorporated (NASDAQ:SYNA) by 30.9% in the first quarter, HoldingsChannel.com reports. The fund owned 7,752 shares of the software maker’s stock after selling 3,471 shares during the quarter. HGK Asset Management Inc.’s holdings in Synaptics were worth $308,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in Synaptics by 2.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,943 shares of the software maker’s stock worth $519,000 after acquiring an additional 283 shares during the period. Neuburgh Advisers LLC lifted its holdings in shares of Synaptics by 11.8% in the 4th quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after buying an additional 352 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Synaptics by 1.8% in the 4th quarter. Texas Permanent School Fund now owns 22,654 shares of the software maker’s stock valued at $843,000 after buying an additional 404 shares during the period. Rhumbline Advisers lifted its holdings in shares of Synaptics by 0.4% in the 1st quarter. Rhumbline Advisers now owns 108,714 shares of the software maker’s stock valued at $4,321,000 after buying an additional 466 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Synaptics by 1.5% in the 3rd quarter. Legal & General Group Plc now owns 33,198 shares of the software maker’s stock valued at $1,515,000 after buying an additional 503 shares during the period. 98.56% of the stock is owned by institutional investors.

NASDAQ:SYNA opened at $29.54 on Monday. Synaptics, Incorporated has a 12 month low of $29.50 and a 12 month high of $55.25. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 14.92 and a beta of 0.86.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, May 9th. The software maker reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.52. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. The company had revenue of $334.00 million during the quarter, compared to analyst estimates of $345.30 million. During the same period in the previous year, the business earned $0.92 EPS. Synaptics’s quarterly revenue was down 15.2% on a year-over-year basis. Equities research analysts forecast that Synaptics, Incorporated will post 2.33 earnings per share for the current year.

Several brokerages have recently issued reports on SYNA. Mizuho cut Synaptics from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $48.00 to $39.00 in a report on Monday, March 18th. JPMorgan Chase & Co. decreased their price objective on Synaptics from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, March 18th. BidaskClub raised Synaptics from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. ValuEngine raised Synaptics from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, Rosenblatt Securities reissued a “hold” rating on shares of Synaptics in a report on Saturday, February 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.40.

In other Synaptics news, SVP John Mcfarland sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $33.76, for a total transaction of $95,507.04. Following the completion of the sale, the senior vice president now directly owns 21,871 shares in the company, valued at approximately $738,364.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.70% of the stock is currently owned by insiders.

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Synaptics Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

Further Reading: Beige Book

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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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