State of New Jersey Common Pension Fund D Buys 4,343 Shares of Synaptics Incorporated (NASDAQ:SYNA)

State of New Jersey Common Pension Fund D increased its stake in Synaptics Incorporated (NASDAQ:SYNA) by 21.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,745 shares of the software maker’s stock after purchasing an additional 4,343 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Synaptics were worth $1,920,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SYNA. Point72 Asset Management L.P. raised its holdings in Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the period. Bank of New York Mellon Corp raised its holdings in Synaptics by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after acquiring an additional 193,182 shares during the period. Victory Capital Management Inc. raised its holdings in Synaptics by 39.1% during the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after acquiring an additional 153,434 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after acquiring an additional 75,680 shares during the period. Finally, Emerald Advisers LLC raised its holdings in Synaptics by 56.0% during the second quarter. Emerald Advisers LLC now owns 202,283 shares of the software maker’s stock valued at $17,841,000 after acquiring an additional 72,611 shares during the period. 99.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SYNA shares. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Rosenblatt Securities reduced their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Craig Hallum reduced their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Stock Performance

Shares of NASDAQ:SYNA opened at $74.64 on Monday. The firm has a 50 day moving average of $73.89 and a 200 day moving average of $81.97. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 18.90 and a beta of 1.47. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics Incorporated has a 52 week low of $67.83 and a 52 week high of $121.37.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,870 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $149,600.00. Following the transaction, the insider now directly owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. Corporate insiders own 1.30% of the company’s stock.

Synaptics 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.