Insider Selling: Star Developments Ltd Silver Unloads 2,689 Shares of SYNNEX Corp. Stock (SNX)
SYNNEX Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 2,689 shares of SYNNEX Corp. stock on the open market in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $62.03, for a total transaction of $166,798.67. Following the transaction, the insider now directly owns 5,591,764 shares in the company, valued at approximately $346,857,121. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. SYNNEX Corp. currently has a consensus rating of “Hold” and a consensus target price of $59.00.
SYNNEX Corp. (NYSE:SNX) traded up 0.29% during mid-day trading on Thursday, hitting $61.30. 208,838 shares of the company’s stock traded hands. 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 $61.07 and its 200-day moving average is $47.7. The company has a market cap of $2.269 billion and a P/E ratio of 19.61.
SYNNEX Corp. (NYSE:SNX) last released its earnings data on Wednesday, September 25th. The company reported $1.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.93 earnings per share. SYNNEX Corp.’s revenue was up 6.1% compared to the same quarter last year. Analysts expect that SYNNEX Corp. will post $4.11 EPS for the current fiscal year.
Synnex Corporation provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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