Symantec (SYMC) Lifted to “Hold” at BidaskClub

Symantec (NASDAQ:SYMC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.

Other equities research analysts have also issued reports about the company. Piper Jaffray Companies set a $40.00 price target on Symantec and gave the stock a “buy” rating in a research note on Sunday, October 15th. Stifel Nicolaus restated a “hold” rating and set a $27.00 price target on shares of Symantec in a research note on Friday, November 3rd. CIBC restated an “outperform” rating and set a $33.00 price target (down from $35.00) on shares of Symantec in a research note on Thursday, November 2nd. Oppenheimer dropped their price target on Symantec from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $32.00 price target on shares of Symantec in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.39.

Shares of Symantec (SYMC) opened at $29.22 on Tuesday. The company has a market capitalization of $17,347.10, a PE ratio of 44.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. Symantec has a 12 month low of $23.77 and a 12 month high of $34.20.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. sell-side analysts anticipate that Symantec will post 1.05 EPS for the current fiscal year.

In related news, 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 completion of the transaction, the director now owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $32.88, for a total value of $147,828.48. Following the completion of the transaction, the senior vice president now directly owns 108,411 shares of the company’s stock, valued at approximately $3,564,553.68. The disclosure for this sale can be found here. Insiders sold 451,721 shares of company stock valued at $13,228,858 in the last ninety days. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of SYMC. Capital Research Global Investors boosted its holdings in Symantec by 1,784.9% in the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after purchasing an additional 13,546,895 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Symantec by 10,624.9% in the second quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock valued at $270,583,000 after purchasing an additional 9,488,859 shares during the last quarter. Kensico Capital Management Corp purchased a new position in Symantec in the third quarter valued at about $225,241,000. CI Global Investments Inc. purchased a new position in Symantec in the second quarter valued at about $186,563,000. Finally, Renaissance Technologies LLC boosted its holdings in Symantec by 405.7% in the second quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock valued at $137,234,000 after purchasing an additional 3,897,200 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

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Symantec 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.

Analyst Recommendations for Symantec (NASDAQ:SYMC)

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