The Symantec Corp. (SYMC) Stake Raised by Morgan Stanley

The Symantec Corp. (SYMC) Stake Raised by Morgan Stanley

Morgan Stanley increased its stake in shares of Symantec Corp. (NASDAQ:SYMC) by 81.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,797,708 shares of the company’s stock after buying an additional 1,258,973 shares during the period. Morgan Stanley’s holdings in Symantec Corp. were worth $70,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYMC. LS Investment Advisors LLC increased its position in shares of Symantec Corp. by 6.0% in the second quarter. LS Investment Advisors LLC now owns 44,941 shares of the company’s stock valued at $923,000 after buying an additional 2,524 shares during the period. CIBC World Markets Inc. increased its position in shares of Symantec Corp. by 51.8% in the second quarter. CIBC World Markets Inc. now owns 15,758 shares of the company’s stock valued at $324,000 after buying an additional 5,379 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of Symantec Corp. during the second quarter valued at $4,568,000. Robeco Institutional Asset Management B.V. increased its position in shares of Symantec Corp. by 2.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 148,117 shares of the company’s stock valued at $3,042,000 after buying an additional 2,839 shares during the period. Finally, Shell Asset Management Co. increased its position in shares of Symantec Corp. by 43.8% in the second quarter. Shell Asset Management Co. now owns 113,170 shares of the company’s stock valued at $2,325,000 after buying an additional 34,460 shares during the period. Institutional investors own 93.05% of the company’s stock.

Symantec Corp. (NASDAQ:SYMC) opened at 26.41 on Thursday. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $26.69. The stock has a 50 day moving average price of $24.63 and a 200-day moving average price of $23.80. The firm has a market capitalization of $16.46 billion, a PE ratio of 7.63 and a beta of 1.18.

Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The business had revenue of $979 million for the quarter, compared to analysts’ expectations of $978.86 million. Symantec Corp. had a return on equity of 11.62% and a net margin of 60.52%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. On average, equities research analysts forecast that Symantec Corp. will post $1.16 EPS for the current year.

Several research analysts have weighed in on SYMC shares. Wells Fargo & Company reiterated a “hold” rating on shares of Symantec Corp. in a research note on Sunday, September 25th. FBN Securities started coverage on Symantec Corp. in a research note on Thursday, October 13th. They issued an “outperform” rating and a $29.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $28.00 target price on shares of Symantec Corp. in a research note on Monday, October 31st. MKM Partners lifted their target price on Symantec Corp. from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, November 2nd. Finally, Nomura reiterated a “hold” rating and issued a $25.00 target price on shares of Symantec Corp. in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.03.

In other news, EVP Francis C. Rosch sold 40,000 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $24.73, for a total transaction of $989,200.00. Following the sale, the executive vice president now directly owns 221,446 shares in the company, valued at approximately $5,476,359.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott C. Taylor sold 24,000 shares of the stock in a transaction that occurred on Friday, January 13th. The stock was sold at an average price of $26.00, for a total value of $624,000.00. Following the sale, the executive vice president now owns 248,577 shares in the company, valued at $6,463,002. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

About Symantec Corp.

Symantec Corporation is a United States-based cybersecurity company. The Company operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. The Company’s segments include Consumer Security and Enterprise Security.

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