SYNNEX Corp. Major Shareholder Star Developments Ltd Silver Sells 15,929 Shares (SNX)
SYNNEX Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 15,929 shares of the stock on the open market in a transaction dated Friday, October 25th. The stock was sold at an average price of $61.88, for a total value of $985,686.52. Following the completion of the transaction, the insider now directly owns 5,668,164 shares of the company’s stock, valued at approximately $350,745,988. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of SYNNEX Corp. (NYSE:SNX) traded down 0.37% on Monday, hitting $61.63. The stock had a trading volume of 61,798 shares. SYNNEX Corp. has a 52-week low of $30.70 and a 52-week high of $59.11. The stock’s 50-day moving average is $50.16 and its 200-day moving average is $42.20. The company has a market cap of $2.282 billion and a price-to-earnings ratio of 19.85.
SYNNEX Corp. (NYSE:SNX) last issued its quarterly 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. Analysts expect that SYNNEX Corp. will post $4.11 EPS for the current fiscal year.
A number of analysts have recently weighed in on SNX shares. Analysts at Ned Davis Research initiated coverage on shares of SYNNEX Corp. in a research note to investors on Monday, October 7th. They set a “neutral” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. SYNNEX Corp. currently has a consensus rating of “Hold” and an average price target of $59.00.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.