Mint Tower Capital Management B.V. Invests $709,000 in Synaptics Incorporated $SYNA

Mint Tower Capital Management B.V. bought a new stake in Synaptics Incorporated (NASDAQ:SYNA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 5,708 shares of the software maker’s stock, valued at approximately $709,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new position in Synaptics in the second quarter worth approximately $25,000. CIBC Private Wealth Group LLC grew its stake in Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock valued at $26,000 after acquiring an additional 190 shares during the period. Allworth Financial LP bought a new stake in shares of Synaptics during the second quarter valued at approximately $33,000. Leonteq Securities AG acquired a new position in shares of Synaptics during the fourth quarter worth approximately $43,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Synaptics during the second quarter worth approximately $54,000. 99.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Esther Song sold 437 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the sale, the insider owned 14,683 shares in the company, valued at approximately $1,522,333.44. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the completion of the transaction, the insider owned 103,468 shares in the company, valued at $10,724,458.20. This represents a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,867 shares of company stock worth $1,624,996 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Synaptics Stock Down 2.6%

SYNA opened at $95.08 on Friday. Synaptics Incorporated has a 12 month low of $58.28 and a 12 month high of $149.11. The company has a 50 day moving average of $113.13 and a 200 day moving average of $103.68. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.72 billion, a PE ratio of -7.52 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. Synaptics’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. On average, sell-side analysts expect that Synaptics Incorporated will post 1.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Northland Securities lowered shares of Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research report on Monday, June 29th. Rosenblatt Securities lowered their target price on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Finally, Susquehanna cut their price target on Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Synaptics currently has an average rating of “Hold” and an average price target of $123.91.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.