Summit Investment Advisors Inc. Boosts Stake in Synaptics Incorporated (NASDAQ:SYNA)

Summit Investment Advisors Inc. boosted its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,345 shares of the software maker’s stock after acquiring an additional 323 shares during the quarter. Summit Investment Advisors Inc. owned 0.05% of Synaptics worth $1,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new position in shares of Synaptics in the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of Synaptics in the 4th quarter worth $43,000. Sterling Capital Management LLC raised its position in shares of Synaptics by 811.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker’s stock valued at $88,000 after buying an additional 1,031 shares in the last quarter. KBC Group NV grew its position in Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after acquiring an additional 837 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Synaptics in the third quarter valued at $227,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Trading Down 1.0 %

Shares of SYNA opened at $49.37 on Wednesday. The stock has a market capitalization of $1.93 billion, a P/E ratio of 11.67 and a beta of 1.60. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $98.00. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $62.65 and a two-hundred day simple moving average of $72.20.

Insider Activity

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Mizuho decreased their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.00.

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.