The Symantec Corp. (SYMC) PT Raised to $27.00 at Jefferies Group

The Symantec Corp. (SYMC) PT Raised to $27.00 at Jefferies Group

Symantec Corp. (NASDAQ:SYMC) had its target price hoisted by Jefferies Group from $23.00 to $27.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 1.66% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $28.00 target price on shares of Symantec Corp. in a report on Monday, October 31st. JMP Securities reaffirmed a “buy” rating on shares of Symantec Corp. in a report on Tuesday, November 22nd. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Symantec Corp. in a report on Sunday, September 25th. Zacks Investment Research raised Symantec Corp. from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Tuesday, January 3rd. Finally, Nomura reaffirmed a “hold” rating and issued a $25.00 target price on shares of Symantec Corp. in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.03.

Shares of Symantec Corp. (NASDAQ:SYMC) opened at 26.56 on Wednesday. The stock has a market cap of $16.56 billion, a PE ratio of 7.68 and a beta of 1.18. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $26.69. The firm has a 50-day moving average price of $24.70 and a 200 day moving average price of $23.82.

Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate 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 last year, the firm earned $0.44 earnings per share. Equities research analysts expect that Symantec Corp. will post $1.16 earnings per share for the current year.

In related news, EVP Scott C. Taylor sold 8,000 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $26.07, for a total value of $208,560.00. Following the transaction, the executive vice president now directly owns 248,577 shares of the company’s stock, valued at approximately $6,480,402.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Francis C. Rosch sold 40,000 shares of the company’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $24.73, for a total value of $989,200.00. Following the completion of the transaction, the executive vice president now directly owns 221,446 shares in the company, valued at $5,476,359.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,143 shares of company stock worth $3,886,039. 0.76% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in SYMC. OMERS ADMINISTRATION Corp increased its position in Symantec Corp. by 33.1% in the third quarter. OMERS ADMINISTRATION Corp now owns 137,200 shares of the company’s stock valued at $3,444,000 after buying an additional 34,100 shares during the last quarter. HBK Investments L P increased its position in Symantec Corp. by 90.6% in the third quarter. HBK Investments L P now owns 1,462,500 shares of the company’s stock valued at $36,709,000 after buying an additional 695,386 shares during the last quarter. Minneapolis Portfolio Management Group LLC purchased a new position in Symantec Corp. during the second quarter valued at about $24,234,000. Skandinaviska Enskilda Banken AB publ increased its position in Symantec Corp. by 41.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,118,274 shares of the company’s stock valued at $28,069,000 after buying an additional 327,219 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in Symantec Corp. by 0.3% in the second quarter. Macquarie Group Ltd. now owns 336,900 shares of the company’s stock valued at $6,920,000 after buying an additional 1,050 shares during the last quarter. 93.05% of the stock is currently owned by hedge funds and other institutional investors.

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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