Prudential Financial Inc. Reduces Holdings in Synaptics Incorporated $SYNA
Prudential Financial Inc. reduced its stake in Synaptics Incorporated by 7% in Q2, owning 178,386 shares valued at $11.56 million. Other institutional investors also adjusted their positions. Synaptics reported Q2 earnings of $1.09 per share, exceeding estimates, with revenue up 13.5% year-over-year. The company announced a $150 million stock buyback program. Analysts have mixed ratings on Synaptics, with a consensus of "Moderate Buy."
Prudential Financial Inc. lowered its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,386 shares of the software maker's stock after selling 13,498 shares during the quarter. Prudential Financial Inc. owned 0.46% of Synaptics worth $11,563,000 at the end of the most recent quarter.
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A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new position in shares of Synaptics in the second quarter worth about $6,991,000. Y Intercept Hong Kong Ltd purchased a new stake in Synaptics during the 2nd quarter worth approximately $750,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Synaptics by 115.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,876 shares of the software maker's stock valued at $575,000 after purchasing an additional 4,756 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Synaptics by 25.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,854 shares of the software maker's stock valued at $4,593,000 after buying an additional 14,556 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Synaptics by 67.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 10,490 shares of the software maker's stock valued at $680,000 after buying an additional 4,223 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.
Synaptics Price Performance
Shares of NASDAQ:SYNA opened at $67.74 on Friday. The company has a market cap of $2.64 billion, a PE ratio of -55.98, a P/E/G ratio of 3.03 and a beta of 1.63. Synaptics Incorporated has a fifty-two week low of $41.80 and a fifty-two week high of $89.81. The firm has a 50-day simple moving average of $68.04 and a 200 day simple moving average of $66.67. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60.
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Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, November 6th. The software maker reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.03. The firm had revenue of $292.50 million for the quarter, compared to analysts' expectations of $289.93 million. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. Synaptics's revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. On average, sell-side analysts anticipate that Synaptics Incorporated will post 0.96 EPS for the current year.
Synaptics announced that its Board of Directors has authorized a stock buyback program on Thursday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
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Several research firms recently issued reports on SYNA. Barclays initiated coverage on shares of Synaptics in a report on Monday, August 18th. They issued an "overweight" rating and a $78.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $85.00 target price on shares of Synaptics in a research note on Friday, November 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $95.00 price target on shares of Synaptics in a research report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Synaptics in a report on Thursday, September 11th. They issued a "buy" rating and a $85.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Synaptics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Synaptics currently has an average rating of "Moderate Buy" and an average target price of $88.29.
View Our Latest Stock Report on SYNA
About Synaptics
(Free Report)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.
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