Short Interest in Symantec Co. (SYMC) Decreases By 12.2%
Symantec Co. (NASDAQ:SYMC) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 21,142,498 shares, a decrease of 12.2% from the April 28th total of 24,075,523 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 8,138,440 shares, the short-interest ratio is currently 2.6 days.
Symantec (NASDAQ:SYMC) opened at 29.61 on Friday. The company’s market cap is $18.01 billion. Symantec has a 1-year low of $16.98 and a 1-year high of $33.22. The company has a 50-day moving average price of $30.92 and a 200-day moving average price of $27.99.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Symantec had a net margin of 55.12% and a return on equity of 12.69%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 EPS. On average, analysts expect that Symantec will post $1.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.01%. The ex-dividend date is Monday, June 5th. Symantec’s payout ratio is currently 9.35%.
In other Symantec news, CAO Mark S. Garfield sold 18,069 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total transaction of $531,047.91. Following the sale, the chief accounting officer now owns 92,754 shares in the company, valued at $2,726,040.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $30.22, for a total value of $60,440.00. Following the sale, the director now owns 37,231 shares in the company, valued at approximately $1,125,120.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,229 shares of company stock worth $3,889,491. Company insiders own 0.76% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SYMC. Johnson Financial Group Inc. boosted its stake in shares of Symantec by 5.6% in the fourth quarter. Johnson Financial Group Inc. now owns 4,881 shares of the technology company’s stock valued at $117,000 after buying an additional 260 shares in the last quarter. Intellectus Partners LLC acquired a new stake in shares of Symantec during the fourth quarter valued at about $124,000. Advisory Services Network LLC acquired a new stake in shares of Symantec during the first quarter valued at about $142,000. Bessemer Group Inc. boosted its stake in shares of Symantec by 1,277.5% in the fourth quarter. Bessemer Group Inc. now owns 6,612 shares of the technology company’s stock valued at $158,000 after buying an additional 6,132 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Symantec by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock valued at $193,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
A number of equities research analysts recently issued reports on SYMC shares. Morgan Stanley reiterated an “overweight” rating and issued a $33.00 price objective on shares of Symantec in a research report on Sunday, February 5th. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Wells Fargo & Co reiterated a “market perform” rating on shares of Symantec in a research report on Friday, April 7th. OTR Global upgraded Symantec to a “positive” rating in a research report on Friday, April 21st. Finally, JMP Securities increased their price objective on Symantec to $32.00 in a research report on Thursday, February 2nd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.86.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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