Symantec Corporation (SYMC) Earns “Hold” Rating from Robert W. Baird
Symantec Corporation (NASDAQ:SYMC)‘s stock had its “hold” rating restated by Robert W. Baird in a report released on Friday. They presently have a $32.00 target price on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 4.58% from the company’s current price.
A number of other research firms also recently commented on SYMC. First Analysis upgraded Symantec Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $28.00 to $40.00 in a report on Thursday, May 11th. MKM Partners reiterated a “neutral” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Symantec Corporation in a report on Monday, May 15th. Zacks Investment Research downgraded Symantec Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 16th. Jefferies Group LLC upped their price objective on Symantec Corporation from $29.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, May 11th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.30.
Symantec Corporation (NASDAQ:SYMC) traded up 3.89% during trading on Friday, hitting $31.79. The company had a trading volume of 6,034,680 shares. The company’s market capitalization is $19.48 billion. The firm has a 50-day moving average of $29.68 and a 200 day moving average of $29.95. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, equities research analysts forecast that Symantec Corporation will post $1.81 earnings per share for the current year.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Fey sold 1,348,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total value of $38,900,286.04. Following the completion of the sale, the insider now directly owns 1,605,757 shares of the company’s stock, valued at $46,310,031.88. The disclosure for this sale can be found here. Insiders have sold 1,649,006 shares of company stock valued at $47,916,361 over the last three months. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd lifted its position in shares of Symantec Corporation by 884.0% in the second quarter. WINTON GROUP Ltd now owns 400,288 shares of the technology company’s stock valued at $11,308,000 after buying an additional 359,607 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Symantec Corporation in the second quarter valued at approximately $795,000. Martin & Co. Inc. TN lifted its position in shares of Symantec Corporation by 0.8% in the second quarter. Martin & Co. Inc. TN now owns 207,285 shares of the technology company’s stock valued at $5,856,000 after buying an additional 1,575 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Symantec Corporation by 5.5% in the second quarter. Scotia Capital Inc. now owns 26,613 shares of the technology company’s stock valued at $752,000 after buying an additional 1,385 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Symantec Corporation by 103.9% in the second quarter. Nomura Holdings Inc. now owns 46,974 shares of the technology company’s stock valued at $1,326,000 after buying an additional 1,259,070 shares during the last quarter. 91.72% of the stock is owned by institutional investors.
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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