Todd Asset Management Lowers stake in Synaptics Incorporated (SYNA)

Synaptics Incorporated (SYNA) : Todd Asset Management reduced its stake in Synaptics Incorporated by 19.8% during the most recent quarter end. The investment management company now holds a total of 325,340 shares of Synaptics Incorporated which is valued at $17,630,175 after selling 80,307 shares in Synaptics Incorporated , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Synaptics Incorporated makes up approximately 0.54% of Todd Asset Management’s portfolio.

Other Hedge Funds, Including , New Amsterdam Partnersny reduced its stake in SYNA by selling 8,416 shares or 8.52% in the most recent quarter. The Hedge Fund company now holds 90,319 shares of SYNA which is valued at $4,894,387. Synaptics Incorporated makes up approx 1.14% of New Amsterdam Partnersny’s portfolio.Emerald Mutual Fund Advisers Trust boosted its stake in SYNA in the latest quarter, The investment management firm added 2,157 additional shares and now holds a total of 7,740 shares of Synaptics Incorporated which is valued at $402,093. Synaptics Incorporated makes up approx 0.02% of Emerald Mutual Fund Advisers Trust’s portfolio.New York State Teachers Retirement System reduced its stake in SYNA by selling 3,400 shares or 4.82% in the most recent quarter. The Hedge Fund company now holds 67,138 shares of SYNA which is valued at $3,495,204. Synaptics Incorporated makes up approx 0.01% of New York State Teachers Retirement System’s portfolio. Mazama Capital Management Inc added SYNA to its portfolio by purchasing 4,787 company shares during the most recent quarter which is valued at $236,430. Synaptics Incorporated makes up approx 0.05% of Mazama Capital Management Inc’s portfolio.

Synaptics Incorporated opened for trading at $54.12 and hit $55.12 on the upside on Thursday, eventually ending the session at $54.9, with a gain of 1.31% or 0.71 points. The heightened volatility saw the trading volume jump to 5,13,913 shares. Company has a market cap of $2,023 M.

On the company’s financial health, Synaptics Incorporated reported $0.46 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.46. The company had revenue of $323.90 million for the quarter, compared to analysts expectations of $318.62 million. The company’s revenue was down -32.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.57 EPS.

Many Wall Street Analysts have commented on Synaptics Incorporated. Shares were Reiterated by Needham on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 65 from a previous price target of $88 .Shares were Reiterated by Craig Hallum on Jul 29, 2016 to “Buy” and Lowered the Price Target to $ 70 from a previous price target of $85 .Shares were Downgraded by Lake Street on Jul 6, 2016 to ” Hold” and Lowered the Price Target to $ 57 from a previous price target of $74 .

Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing communications entertainment and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets. The ClearPad family supports touchscreen solutions for devices ranging from entry-level mobile phones to flagship premium smartphones tablets and notebook PCs. The TouchPad family including ClickPad and ForcePad is integrated into the majority of today’s notebook PCs. Natural ID fingerprint sensor technology enables authentication mobile payments and touch-based navigation for smartphones tablets and notebook computers. Synaptics portfolio also includes ThinTouch supporting thin and light keyboard solutions as well as key technologies for next generation touch-enabled video and display applications.

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