Synnex Corp. (SNX) Director Sells $995,548.97 in Stock
Synnex Corp. (NYSE:SNX) Director Matthew Miau sold 9,347 shares of the firm’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $106.51, for a total transaction of $995,548.97. Following the transaction, the director now directly owns 374,420 shares in the company, valued at $39,879,474.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Synnex Corp. (NYSE:SNX) traded down 0.59% on Monday, reaching $104.23. 237,921 shares of the company were exchanged. The stock’s 50-day moving average is $107.34 and its 200 day moving average is $96.50. The firm has a market capitalization of $4.15 billion, a PE ratio of 19.64 and a beta of 1.10. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $118.80.
Synnex Corp. (NYSE:SNX) last issued its earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.17. The business earned $3.67 billion during the quarter. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 EPS. On average, analysts forecast that Synnex Corp. will post $6.57 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Wednesday, October 12th. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio is 18.83%.
A number of brokerages have issued reports on SNX. Stifel Nicolaus increased their price objective on shares of Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. increased their price objective on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 27th. Zacks Investment Research downgraded shares of Synnex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research note on Saturday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $106.71.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Synnex Corp. by 12.2% in the second quarter. Vanguard Group Inc. now owns 2,935,569 shares of the company’s stock worth $278,350,000 after buying an additional 319,670 shares during the period. BlackRock Fund Advisors raised its stake in Synnex Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,425,615 shares of the company’s stock worth $135,177,000 after buying an additional 45,946 shares during the period. State Street Corp raised its stake in Synnex Corp. by 1.0% in the second quarter. State Street Corp now owns 900,446 shares of the company’s stock worth $85,379,000 after buying an additional 8,892 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Synnex Corp. by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 883,556 shares of the company’s stock worth $83,779,000 after buying an additional 18,825 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Synnex Corp. by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 786,864 shares of the company’s stock worth $74,611,000 after buying an additional 269,364 shares during the period. 75.36% of the stock is owned by hedge funds and other institutional investors.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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