Symantec Corporation (SYMC) Price Target Lowered to $33.00 at Oppenheimer Holdings, Inc.
Symantec Corporation (NASDAQ:SYMC) had its target price dropped by Oppenheimer Holdings, Inc. from $35.00 to $33.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 1.54% from the company’s current price.
SYMC has been the topic of a number of other research reports. Barclays PLC reissued an “overweight” rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research note on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $32.00 price target on shares of Symantec Corporation in a research note on Monday, July 31st. BidaskClub raised Symantec Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price target on shares of Symantec Corporation in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and a consensus target price of $31.58.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS.
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In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.51, for a total value of $67,020.00. Following the transaction, the director now owns 37,386 shares of the company’s stock, valued at approximately $1,252,804.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,645,816 shares of company stock valued at $47,911,129. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after purchasing an additional 292 shares in the last quarter. Sun Life Financial INC increased its holdings in Symantec Corporation by 44,100.0% during the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. bought a new position in Symantec Corporation during the 2nd quarter worth about $127,000. Johnson Financial Group Inc. increased its holdings in Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after purchasing an additional 325 shares in the last quarter. Finally, United Bank Inc. bought a new position in Symantec Corporation during the 3rd quarter worth about $200,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Symantec Corporation Company Profile
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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