The Symantec Co. (SYMC) Given “Hold” Rating at Robert W. Baird

The Symantec Co. (SYMC) Given “Hold” Rating at Robert W. Baird

A number of other research analysts have also recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $33.00 target price on shares of Symantec in a research note on Sunday, February 5th. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Wells Fargo & Co restated a “market perform” rating on shares of Symantec in a report on Friday, April 7th. OTR Global upgraded Symantec to a “positive” rating in a report on Friday, April 21st. Finally, JMP Securities boosted their price target on Symantec to $32.00 in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $30.14.

Symantec Co. (NASDAQ:SYMC)‘s stock had its “hold” rating reaffirmed by equities research analysts at Robert W. Baird in a research report issued to clients and investors on Thursday, May 11th.

Symantec (NASDAQ:SYMC) opened at 30.08 on Thursday. The firm’s market cap is $18.30 billion. Symantec has a 52 week low of $17.13 and a 52 week high of $33.22. The company has a 50-day moving average of $30.93 and a 200 day moving average of $28.19.

Symantec (NASDAQ:SYMC) last posted its earnings results on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. On average, equities analysts predict that Symantec will post $1.78 earnings per share for the current year. The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 5th. Symantec’s payout ratio is presently 9.35%.

In other news, CAO Mark S. Garfield sold 18,069 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total value of $531,047.91. Following the completion of the transaction, the chief accounting officer now directly owns 92,754 shares in the company, valued at approximately $2,726,040.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark S. Garfield sold 3,002 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $29.25, for a total value of $87,808.50. Following the completion of the transaction, the chief accounting officer now owns 63,508 shares of the company’s stock, valued at $1,857,609. The disclosure for this sale can be found here. Insiders have sold 100,429 shares of company stock valued at $3,091,230 over the last 90 days. Corporate insiders own 0.76% of the company’s stock. Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Symantec by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after buying an additional 39,569,694 shares during the last quarter. Jackson Square Partners LLC bought a new position in shares of Symantec during the third quarter valued at about $565,123,000. Lone Pine Capital LLC bought a new position in shares of Symantec during the fourth quarter valued at about $317,066,000. Capital World Investors bought a new position in shares of Symantec during the third quarter valued at about $241,211,000. Finally, Dodge & Cox bought a new position in shares of Symantec during the fourth quarter valued at about $180,155,000. Institutional investors own 93.90% of the company’s stock.

About Symantec 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SYMC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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