Should You Sell Synaptics Incorporated (SYNA)?
Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the quarter, the fund returned -5.72% compared to a -4.61 % return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
In the third-quarter letter, FPA discussed stocks like Synaptics Incorporated (NASDAQ:SYNA). Headquartered in San Jose, California, Synaptics Incorporated (NASDAQ:SYNA) is a global semiconductor product solutions developer and provider. On October 28, 2022, Synaptics Incorporated (NASDAQ:SYNA) stock closed at $93.06 per share. One-month return of Synaptics Incorporated (NASDAQ:SYNA) was -8.85% and its shares lost 55.48% of their value over the last 52 weeks. Synaptics Incorporated (NASDAQ:SYNA) has a market capitalization of $3.722 billion.
FPA made the following comment about Synaptics Incorporated (NASDAQ:SYNA) in its Q3 2022 investor letter:
“Synaptics Incorporated (NASDAQ:SYNA) is a developer of human interface (HMI) hardware and software that has diversified into higher margin internet-of-things (IoT) products. Synaptics was a large holding for the fund in 2021, and we significantly trimmed the position due to valuation. The shares are back down this year with concerns about consumer technology volumes. We have been incrementally buying back shares at lower prices."
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Synaptics Incorporated (NASDAQ:SYNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Synaptics Incorporated (NASDAQ:SYNA) at the end of the second quarter, which was 31 in the previous quarter.
We discussed Synaptics Incorporated (NASDAQ:SYNA) in another article and shared ten stocks to sell according to Javier Velazquez’s Albar Capital. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
