Symantec Corporation (SYMC) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Symantec Corporation (NASDAQ:SYMC) from a hold rating to a buy rating in a research report report published on Wednesday, July 12th.

SYMC has been the topic of several other research reports. Morgan Stanley boosted their price objective on Symantec Corporation from $33.00 to $37.00 and gave the stock an overweight rating in a report on Wednesday, March 22nd. OTR Global upgraded Symantec Corporation to a positive rating in a report on Friday, April 21st. Wells Fargo & Company restated a market perform rating on shares of Symantec Corporation in a report on Friday, April 7th. Standpoint Research upgraded Symantec Corporation from a hold rating to a buy rating in a report on Thursday, June 29th. Finally, Barclays PLC upgraded Symantec Corporation from an equal weight rating to an overweight rating and upped their target price for the company from $34.00 to $38.00 in a report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $31.00.

Symantec Corporation (SYMC) traded down 1.541% during trading on Wednesday, reaching $28.425. 6,995,768 shares of the company were exchanged. Symantec Corporation has a 12 month low of $20.47 and a 12 month high of $33.22. The stock has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.72. The firm’s market capitalization is $17.31 billion.

Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $0.29 EPS. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. On average, analysts expect that Symantec Corporation will post $1.80 EPS for the current fiscal year.

WARNING: “Symantec Corporation (SYMC) Upgraded by BidaskClub to Buy” was first posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.themarketsdaily.com/2017/08/08/symantec-co-symc-rating-increased-to-buy-at-bidaskclub-updated-updated-updated.html.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.04%. Symantec Corporation’s dividend payout ratio is -49.18%.

In other news, EVP Francis C. Rosch sold 47,344 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $30.18, for a total value of $1,428,841.92. Following the completion of the sale, the executive vice president now directly owns 193,054 shares of the company’s stock, valued at $5,826,369.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $30.16, for a total value of $60,320.00. Following the completion of the sale, the director now directly owns 45,486 shares of the company’s stock, valued at $1,371,857.76. The disclosure for this sale can be found here. Insiders sold 188,943 shares of company stock valued at $5,766,330 over the last three months. 0.76% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its position in shares of Symantec Corporation by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,684 shares of the technology company’s stock worth $518,000 after buying an additional 1,560 shares during the last quarter. Vident Investment Advisory LLC raised its position in shares of Symantec Corporation by 7.3% in the fourth quarter. Vident Investment Advisory LLC now owns 114,121 shares of the technology company’s stock worth $2,726,000 after buying an additional 7,800 shares during the last quarter. Dodge & Cox purchased a new position in shares of Symantec Corporation during the fourth quarter worth approximately $180,155,000. Quadrature Capital Ltd raised its position in shares of Symantec Corporation by 131.3% in the fourth quarter. Quadrature Capital Ltd now owns 104,690 shares of the technology company’s stock worth $2,501,000 after buying an additional 59,427 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in shares of Symantec Corporation by 36.4% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,584,719 shares of the technology company’s stock worth $133,419,000 after buying an additional 1,489,025 shares during the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply