Synaptics Incorporated (NASDAQ:SYNA) Insider Ken Rizvi Buys 3,600 Shares

Synaptics Incorporated (NASDAQ:SYNA) insider Ken Rizvi acquired 3,600 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, with a total value of $248,940.00. Following the completion of the purchase, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Synaptics Price Performance

SYNA stock opened at $68.22 on Wednesday. The firm has a 50 day moving average price of $79.24 and a 200-day moving average price of $76.78. Synaptics Incorporated has a 52-week low of $67.16 and a 52-week high of $115.85. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 16.13 and a beta of 1.45. 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

Several analysts have commented on SYNA shares. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $92.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. TD Cowen raised their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Susquehanna raised their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.25.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently made changes to their positions in SYNA. TimesSquare Capital Management LLC increased its position in shares of Synaptics by 46.0% during the fourth 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 in the last quarter. Peregrine Capital Management LLC increased its position in shares of Synaptics by 210.0% during the fourth quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after acquiring an additional 138,748 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Synaptics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after acquiring an additional 93,155 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Synaptics by 51.6% during the fourth quarter. Prudential Financial Inc. now owns 257,817 shares of the software maker’s stock valued at $19,677,000 after acquiring an additional 87,746 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after acquiring an additional 53,252 shares in the last quarter. Institutional investors own 99.43% of the company’s stock.

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.