BlackRock Cuts SYNAPTICS Stake to 6.9% as of Dec 31, 2023
Ticker: SYNA · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 817720
| Field | Detail |
|---|---|
| Company | Synaptics Inc (SYNA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, semiconductors
TL;DR
**BlackRock trimmed its SYNAPTICS stake to 6.9%, watch for market reaction.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership in SYNAPTICS Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 2,756,660 shares of SYNAPTICS Inc. Common Stock, representing 6.9% of the company's total outstanding shares. This is a decrease from their previous filing, indicating BlackRock has reduced its stake in the semiconductor company. This matters to investors because a major institutional investor like BlackRock reducing its position could signal a less optimistic outlook on SYNAPTICS Inc.'s future performance or a reallocation of their portfolio.
Why It Matters
A significant reduction in ownership by a major institutional investor like BlackRock can influence market sentiment and potentially signal a shift in their confidence regarding SYNAPTICS Inc.'s future prospects.
Risk Assessment
Risk Level: medium — A large institutional investor reducing its stake can be perceived negatively by the market, potentially leading to downward pressure on the stock price.
Analyst Insight
A smart investor would monitor SYNAPTICS Inc.'s stock performance and news for any further institutional selling or company-specific developments that might explain BlackRock's reduced stake, considering this a potential signal of decreased institutional confidence.
Key Numbers
- 2,756,660 — Shares owned by BlackRock (Represents BlackRock's beneficial ownership in SYNAPTICS Inc. as of December 31, 2023.)
- 6.9% — Percentage of class owned (Indicates BlackRock's reduced stake in SYNAPTICS Inc., down from previous filings.)
Key Players & Entities
- BlackRock Inc. (company) — reporting person, institutional investor
- SYNAPTICS Inc. (company) — subject company, semiconductor manufacturer
- 2,756,660 (dollar_amount) — number of shares beneficially owned by BlackRock
- 6.9% (dollar_amount) — percentage of SYNAPTICS Inc. shares beneficially owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- January 23, 2024 (date) — filing date of the SC 13G/A
Forward-Looking Statements
- SYNAPTICS Inc. stock price may experience short-term downward pressure. (SYNAPTICS Inc.) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in SYNAPTICS Inc. (Institutional Investors) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing by BlackRock Inc.?
The primary purpose of this SC 13G/A filing is for BlackRock Inc. to report its beneficial ownership of SYNAPTICS Inc. Common Stock as of December 31, 2023, as an amendment (Amendment No: 16) to a previous filing, indicating a change in their holdings.
How many shares of SYNAPTICS Inc. Common Stock does BlackRock Inc. beneficially own according to this filing?
According to this filing, BlackRock Inc. beneficially owns 2,756,660 shares of SYNAPTICS Inc. Common Stock as of December 31, 2023.
What percentage of SYNAPTICS Inc.'s outstanding shares does BlackRock Inc. now own?
BlackRock Inc. now beneficially owns 6.9% of the total outstanding shares of SYNAPTICS Inc. Common Stock, as reported on December 31, 2023.
What was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A was December 31, 2023.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding SYNAPTICS Inc (SYNA).