Wed Sep 25 07:53:18 UTC 2024: ## New Jersey Pension Fund Trims Synaptics Stake, Other Institutional Investors Adjust Positions
**Newark, NJ** – The State of New Jersey Common Pension Fund D has reduced its holdings in Synaptics Incorporated (NASDAQ:SYNA) by 23.7% in the second quarter, according to the fund’s recent filing with the Securities & Exchange Commission. The fund now owns 20,402 shares of the software maker, representing a value of $1,799,000.
This move comes amidst a flurry of activity from other institutional investors. Heron Bay Capital Management increased its stake in Synaptics by 1.3% in the first quarter, while US Bancorp DE, CWM LLC, Bridge City Capital LLC, and Russell Investments Group Ltd. also boosted their holdings.
Despite the pension fund’s reduction, institutional investors remain highly invested in Synaptics, with 99.43% of the company’s stock currently owned by these entities.
Synaptics’ stock opened at $73.51 on Wednesday, with a market capitalization of $2.90 billion. The company’s financial performance has attracted mixed attention from analysts. While several brokerages have reduced their target price on SYNA shares, others maintain a “buy” rating.
In a recent report, KeyCorp lowered its price target to $100.00, but maintained an “overweight” rating. Meanwhile, Needham & Company LLC lowered its target price to $95.00, yet still holds a “buy” rating.
Overall, Synaptics has an average rating of “Moderate Buy” and an average price target of $105.44 according to data from MarketBeat.
Synaptics, a leading developer and seller of semiconductor products, offers a range of solutions for audio, connectivity, video, and imaging. The company’s products are widely used in various devices, including smartphones, tablets, and smart displays.
**Disclaimer:** This news article is based on information available at the time of writing and should not be considered financial advice.
First Piper 