Synaptics (NASDAQ:SYNA) Insider Vikram Gupta Sells 4,277 Shares

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 4,277 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the transaction, the insider directly owned 103,468 shares in the company, valued at approximately $10,724,458.20. This represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.

Vikram Gupta also recently made the following trade(s):

• On Monday, July 27th, Vikram Gupta sold 360 shares of Synaptics stock. The shares were sold at an average price of $114.20, for a total transaction of $41,112.00.
• On Tuesday, May 26th, Vikram Gupta sold 692 shares of Synaptics stock. The shares were sold at an average price of $147.50, for a total transaction of $102,070.00.

Synaptics Trading Down 3.7%

NASDAQ SYNA opened at $100.98 on Thursday. The company has a market capitalization of $3.95 billion, a PE ratio of -7.98 and a beta of 1.99. The firm’s fifty day simple moving average is $118.98 and its 200-day simple moving average is $103.30. Synaptics Incorporated has a 1-year low of $58.28 and a 1-year high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. During the same period last year, the business posted $1.01 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Weiss Ratings lowered Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Rosenblatt Securities dropped their price objective on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $123.91.

Hedge Funds Weigh In On Synaptics

Large investors have recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in shares of Synaptics in the second quarter valued at $25,000. CIBC Private Wealth Group LLC raised 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 purchasing an additional 190 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Synaptics during the 2nd quarter worth $33,000. Leonteq Securities AG bought a new stake in Synaptics during the fourth quarter worth about $43,000. Finally, Lazard Asset Management LLC bought a new stake in Synaptics in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

About Synaptics

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.