Symantec Co. (SYMC) Given Consensus Recommendation of “Hold” by Brokerages
Symantec Co. (NASDAQ:SYMC) has earned a consensus recommendation of “Hold” from the thirty analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.52.
A number of equities research analysts recently commented on SYMC shares. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $36.00 price target on shares of Symantec in a report on Friday, June 9th. BidaskClub upgraded shares of Symantec from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Symantec from a “strong sell” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, July 11th. Standpoint Research upgraded shares of Symantec from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 price target on shares of Symantec in a report on Tuesday, September 12th.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the sale, the senior vice president now directly owns 112,907 shares in the company, valued at $3,387,210. The disclosure for this sale can be found here. Insiders have sold a total of 1,679,228 shares of company stock worth $48,889,078 over the last three months. 1.30% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in SYMC. UBS Asset Management Americas Inc. grew its position in Symantec by 10.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 2,229,361 shares of the technology company’s stock valued at $68,397,000 after purchasing an additional 217,935 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Symantec by 10.6% during the 1st quarter. Ameriprise Financial Inc. now owns 679,837 shares of the technology company’s stock valued at $20,856,000 after acquiring an additional 65,021 shares during the period. Alambic Investment Management L.P. bought a new position in Symantec during the 1st quarter valued at about $281,000. Raymond James Financial Services Advisors Inc. lifted its stake in Symantec by 4.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 19,099 shares of the technology company’s stock valued at $586,000 after acquiring an additional 856 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Symantec by 2.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 266,137 shares of the technology company’s stock valued at $8,163,000 after acquiring an additional 6,623 shares during the period. 91.65% of the stock is currently owned by institutional investors.
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Symantec (NASDAQ SYMC) traded down 0.06% during trading on Friday, hitting $33.02. 4,274,372 shares of the stock traded hands. The stock’s market cap is $20.23 billion. The company has a 50-day moving average price of $30.14 and a 200-day moving average price of $30.21. Symantec has a 12 month low of $22.76 and a 12 month high of $34.20.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Symantec had a negative net margin of 9.36% and a negative return on equity of 12.83%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $0.29 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. Equities research analysts expect that Symantec will post $1.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec’s dividend payout ratio is presently -49.18%.
Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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