Synnex Corp. (SNX) Major Shareholder Star Developments Ltd Silver Sells 5,000 Shares
Synnex Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 5,000 shares of the business’s stock in a transaction on Friday, October 14th. The stock was sold at an average price of $106.46, for a total value of $532,300.00. Following the completion of the sale, the insider now directly owns 5,550,364 shares in the company, valued at approximately $590,891,751.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Synnex Corp. (NYSE:SNX) opened at 104.23 on Tuesday. The stock has a market cap of $4.15 billion, a P/E ratio of 19.64 and a beta of 1.10. The firm has a 50-day moving average price of $107.34 and a 200-day moving average price of $96.50. Synnex Corp. has a 52 week low of $75.87 and a 52 week high of $118.80.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.17. The firm had revenue of $3.67 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, equities research analysts predict that Synnex Corp. will post $6.57 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio (DPR) is presently 18.83%.
SNX has been the topic of a number of recent analyst reports. Zacks Investment Research raised Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Friday, September 9th. Stifel Nicolaus boosted their target price on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Tuesday, September 27th. Credit Agricole SA boosted their target price on Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 27th. Brean Capital reaffirmed a “buy” rating and set a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a research report on Friday, June 24th. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Synnex Corp. in a research report on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $106.71.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in shares of Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the last quarter. Societe Generale purchased a new position in shares of Synnex Corp. during the second quarter worth approximately $156,000. LS Investment Advisors LLC raised its position in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Synnex Corp. during the second quarter worth approximately $175,000. Hedge funds and other institutional investors own 75.36% of the company’s stock.
Synnex Corp. Company Profile
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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