Barclays PLC reissued their overweight rating on shares of Symantec Corporation (NASDAQ:SYMC) in a research report released on Wednesday, August 9th. Barclays PLC currently has a $36.00 target price on the technology company’s stock, down from their prior target price of $38.00.
Several other research firms have also issued reports on SYMC. First Analysis upgraded Symantec Corporation from an equal weight rating to an overweight rating and upped their target price for the stock from $28.00 to $40.00 in a report on Thursday, May 11th. Robert W. Baird reissued a hold rating on shares of Symantec Corporation in a research report on Thursday, May 11th. Zacks Investment Research raised Symantec Corporation from a sell rating to a hold rating in a research report on Tuesday, May 9th. MKM Partners reaffirmed a neutral rating and issued a $30.00 target price (up previously from $26.00) on shares of Symantec Corporation in a research report on Monday, May 15th. Finally, Jefferies Group LLC upped their target price on Symantec Corporation from $29.00 to $31.00 and gave the company a hold rating in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $31.00.
Symantec Corporation (NASDAQ:SYMC) traded up 1.46% during midday trading on Wednesday, reaching $28.45. The company’s stock had a trading volume of 7,202,238 shares. The company’s 50-day moving average price is $29.56 and its 200-day moving average price is $29.83. The company’s market capitalization is $17.43 billion. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. On average, analysts predict that Symantec Corporation will post $1.81 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be issued a $0.075 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Fey sold 1,348,831 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the transaction, the insider now 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 sold a total of 1,475,916 shares of company stock worth $42,723,358 in the last ninety days. 0.76% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of SYMC. Northwestern Mutual Wealth Management Co. increased its stake in Symantec Corporation by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares in the last quarter. Sun Life Financial INC increased its stake in Symantec Corporation by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after buying an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in Symantec Corporation during the second quarter valued at $127,000. Advisory Services Network LLC acquired a new stake in Symantec Corporation during the first quarter valued at $142,000. Finally, Johnson Financial Group Inc. increased its stake in Symantec Corporation by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after buying an additional 325 shares in the last quarter. 93.40% of the stock is owned by institutional investors.
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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