Symantec Corporation Sees Unusually High Options Volume (NASDAQ:SYMC)
Symantec Corporation (NASDAQ:SYMC) was the recipient of some unusual options trading on Friday. Stock traders purchased 13,149 put options on the company. This represents an increase of approximately 771% compared to the average volume of 1,510 put options.
In other Symantec Corporation news, insider Michael David Fey sold 1,348,831 shares of Symantec Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total value of $38,900,286.04. Following the transaction, the insider now owns 1,605,757 shares in the company, valued at $46,310,031.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott C. Taylor sold 15,000 shares of Symantec Corporation stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $31.04, for a total value of $465,600.00. Following the completion of the transaction, the executive vice president now owns 257,591 shares in the company, valued at approximately $7,995,624.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,497,033 shares of company stock worth $43,344,571. Company insiders own 0.76% of the company’s stock.
Several large investors have recently modified their holdings of SYMC. Global Financial Private Capital LLC raised its stake in shares of Symantec Corporation by 21.5% in the second quarter. Global Financial Private Capital LLC now owns 9,099 shares of the technology company’s stock worth $257,000 after buying an additional 1,608 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in Symantec Corporation by 27.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 187,225 shares of the technology company’s stock worth $5,289,000 after buying an additional 39,799 shares during the last quarter. Jackson Square Partners LLC boosted its position in Symantec Corporation by 5.0% in the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after buying an additional 964,537 shares during the last quarter. Veritable L.P. boosted its position in Symantec Corporation by 33.2% in the second quarter. Veritable L.P. now owns 10,006 shares of the technology company’s stock worth $283,000 after buying an additional 2,495 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Symantec Corporation by 405.7% in the second quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock worth $137,234,000 after buying an additional 3,897,200 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.
Symantec Corporation (SYMC) opened at 28.29 on Monday. Symantec Corporation has a 52 week low of $21.98 and a 52 week high of $33.22. The firm’s market capitalization is $17.34 billion. The firm has a 50-day moving average price of $29.58 and a 200 day moving average price of $29.80.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.29 EPS. On average, equities research analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.06%. Symantec Corporation’s dividend payout ratio is currently -49.18%.
Several analysts have recently weighed in on SYMC shares. UBS AG cut Symantec Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $31.00 to $33.00 in a report on Thursday, May 18th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a report on Saturday, June 10th. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the stock a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, July 11th. Finally, Barclays PLC restated an “overweight” rating and set a $36.00 price target (down from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and thirteen have given a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and an average price target of $31.00.
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About Symantec Corporation
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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