Sell Synaptics on Recent Price Strength
Although it was only two months ago that I identified Synpatics (SYNA) as one of my two “Top Tech Takeover Targets”, recently released insider trading activity by the company’s officers suggest they don’t have much confidence in the company’s future. Over the past six months, every one of the stock transactions executed by officers of the company were either an “automatic sale”, “disposition” or “option exercise”, decreasing their stake in the company by a whopping 75%. That’s a huge red flag, so I’m using this recent price strength to sell SYNA out of our Special Situations portfolio. If the company’s senior management team is bailing out of the stock, then so am I. Sell Synaptics.
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