Profit Investment Management LLC Has $1.89 Million Stake in Synaptics Incorporated (NASDAQ:SYNA)

Profit Investment Management LLC boosted its position in shares of Synaptics Incorporated (NASDAQ:SYNA) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,716 shares of the software maker’s stock after acquiring an additional 2,029 shares during the quarter. Profit Investment Management LLC’s holdings in Synaptics were worth $1,886,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after acquiring an additional 267 shares during the period. Quarry LP acquired a new stake in Synaptics during the 3rd quarter valued at $31,000. CWM LLC boosted its position in Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares during the period. Van ECK Associates Corp acquired a new position in shares of Synaptics in the third quarter valued at $132,000. Finally, nVerses Capital LLC increased its holdings in shares of Synaptics by 75.0% in the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock valued at $217,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the transaction, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Synaptics Price Performance

Shares of SYNA stock opened at $80.89 on Friday. The company has a market cap of $3.24 billion, a P/E ratio of 20.48 and a beta of 1.44. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $78.21 and a 200 day simple moving average of $78.15. Synaptics Incorporated has a twelve month low of $67.83 and a twelve month high of $115.85.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen raised their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC cut their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Susquehanna decreased their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Rosenblatt Securities reduced their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and an average target price of $97.33.

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.