BidaskClub upgraded shares of Symantec (NASDAQ:SYMC) from a sell rating to a hold rating in a research report sent to investors on Friday morning, BidAskClub reports.

Several other research firms have also recently weighed in on SYMC. Jefferies Financial Group cut their target price on Symantec from $22.00 to $19.00 and set a hold rating for the company in a research note on Friday, May 10th. Mizuho upgraded Symantec from a neutral rating to a buy rating and upped their target price for the stock from $22.00 to $23.00 in a research note on Monday, June 17th. Wedbush set a $19.00 target price on Symantec and gave the stock a hold rating in a research note on Monday, July 15th. Evercore ISI set a $22.00 target price on Symantec and gave the stock a hold rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt began coverage on Symantec in a research note on Wednesday, July 10th. They set a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Symantec has an average rating of Hold and an average target price of $22.77.

NASDAQ SYMC opened at $23.85 on Friday. The business has a fifty day moving average price of $23.10 and a two-hundred day moving average price of $22.25. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.85. Symantec has a fifty-two week low of $17.42 and a fifty-two week high of $26.07. The stock has a market capitalization of $14.30 billion, a PE ratio of 20.38, a PEG ratio of 2.55 and a beta of 1.33.

Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. Symantec had a return on equity of 14.94% and a net margin of 2.43%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Symantec will post 1.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.30 annualized dividend and a dividend yield of 1.26%. Symantec’s dividend payout ratio (DPR) is presently 25.64%.

In related news, Director Peter A. Feld purchased 1,325,814 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $22.95 per share, for a total transaction of $30,427,431.30. Following the completion of the acquisition, the director now owns 24,685 shares of the company’s stock, valued at $566,520.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in SYMC. FinTrust Capital Advisors LLC increased its holdings in Symantec by 995.1% in the second quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,224 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Symantec in the second quarter valued at $39,000. CSat Investment Advisory L.P. increased its holdings in Symantec by 126.3% in the second quarter. CSat Investment Advisory L.P. now owns 2,123 shares of the technology company’s stock valued at $46,000 after purchasing an additional 1,185 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Symantec in the second quarter valued at $57,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Symantec in the first quarter valued at $76,000. Institutional investors own 90.06% of the company’s stock.

Symantec Company Profile

Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.

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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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