Synnex Corporation (SNX) Director Matthew Miau Sells 2,000 Shares

Synnex Corporation (NYSE:SNX) Director Matthew Miau sold 2,000 shares of Synnex stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $132.00, for a total transaction of $264,000.00. Following the completion of the sale, the director now owns 375,557 shares in the company, valued at $49,573,524. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Matthew Miau also recently made the following trade(s):

  • On Wednesday, January 17th, Matthew Miau sold 800,000 shares of Synnex stock. The shares were sold at an average price of $130.30, for a total transaction of $104,240,000.00.

Synnex Corporation (NYSE:SNX) traded down $3.41 during trading on Tuesday, reaching $131.79. 602,800 shares of the company’s stock traded hands, compared to its average volume of 314,614. The firm has a market cap of $5,403.29, a PE ratio of 17.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 1.42. Synnex Corporation has a 52-week low of $101.48 and a 52-week high of $141.94.

Synnex (NYSE:SNX) last released its earnings results on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $0.10. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Synnex had a net margin of 1.77% and a return on equity of 16.43%. Synnex’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the company earned $2.57 EPS. equities research analysts anticipate that Synnex Corporation will post 10.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 19th will be paid a dividend of $0.35 per share. This is a boost from Synnex’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $1.40 annualized dividend and a yield of 1.06%. Synnex’s dividend payout ratio (DPR) is presently 18.67%.

Several analysts recently weighed in on the stock. Pivotal Research assumed coverage on shares of Synnex in a research report on Friday, October 6th. They issued a “hold” rating and a $137.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. ValuEngine upgraded shares of Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Synnex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Finally, Citigroup reiterated a “neutral” rating and issued a $150.00 price objective on shares of Synnex in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $145.38.

Several institutional investors and hedge funds have recently made changes to their positions in SNX. Wells Fargo & Company MN grew its stake in shares of Synnex by 5.5% in the 2nd quarter. Wells Fargo & Company MN now owns 54,109 shares of the business services provider’s stock worth $6,491,000 after purchasing an additional 2,828 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Synnex by 4.7% in the 2nd quarter. Alliancebernstein L.P. now owns 46,760 shares of the business services provider’s stock worth $5,609,000 after purchasing an additional 2,100 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Synnex by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,098 shares of the business services provider’s stock worth $252,000 after purchasing an additional 898 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Synnex by 55.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 169,789 shares of the business services provider’s stock worth $20,368,000 after purchasing an additional 60,637 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Synnex by 1.5% in the 2nd quarter. Amalgamated Bank now owns 4,164 shares of the business services provider’s stock worth $500,000 after purchasing an additional 60 shares during the last quarter. 71.70% of the stock is currently owned by institutional investors.

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Synnex Company Profile

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Insider Buying and Selling by Quarter for Synnex (NYSE:SNX)

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