Insider Selling: SYNNEX Corp. Major Shareholder Unloads 13,822 Shares of Stock (SNX)
SYNNEX Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 13,822 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $62.09, for a total transaction of $858,207.98. Following the completion of the transaction, the insider now directly owns 5,778,030 shares in the company, valued at approximately $358,757,883. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of SYNNEX Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 30th. They now have a $64.00 price target on the stock. Separately, analysts at Brean Capital raised their price target on shares of SYNNEX Corp. from $46.00 to $72.00 in a research note to investors on Friday, September 27th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America Corp. initiated coverage on shares of SYNNEX Corp. in a research note to investors on Friday, September 13th. They set a “buy” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $59.00.
SYNNEX Corp. (NYSE:SNX) traded down 0.81% on Monday, hitting $61.36. 79,070 shares of the company’s stock traded hands. SYNNEX Corp. has a 52 week low of $30.70 and a 52 week high of $64.50. The stock’s 50-day moving average is $55.09 and its 200-day moving average is $44.63. The company has a market cap of $2.268 billion and a price-to-earnings ratio of 19.85.
SYNNEX Corp. (NYSE:SNX) last released its earnings data on Wednesday, September 25th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.95 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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