The Symantec Co. (SYMC) Stock Rating Reaffirmed by Stifel Nicolaus

The Symantec Co. (SYMC) Stock Rating Reaffirmed by Stifel Nicolaus

SYMC has been the topic of several other research reports. Jefferies Group LLC upped their target price on Symantec from $23.00 to $27.00 and gave the stock a hold rating in a report on Wednesday, January 18th. Zacks Investment Research lowered Symantec from a buy rating to a sell rating in a report on Friday, January 20th. Royal Bank of Canada upped their target price on Symantec from $28.00 to $30.00 and gave the stock an outperform rating in a report on Monday, January 30th. Citigroup Inc assumed coverage on Symantec in a report on Monday, January 30th. They set a neutral rating and a $29.00 target price on the stock. Finally, Wunderlich reissued a buy rating and set a $30.00 price target on shares of Symantec in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. Symantec presently has a consensus rating of Hold and a consensus target price of $30.14.

Stifel Nicolaus reiterated their hold rating on shares of Symantec Co. (NASDAQ:SYMC) in a research note issued to investors on Thursday, May 11th. They currently have a $29.00 target price on the technology company’s stock, up from their previous target price of $28.00.

Symantec (NASDAQ:SYMC) opened at 30.08 on Thursday. 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. The firm’s market cap is $18.30 billion. Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts predict that Symantec will post $1.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a $0.075 dividend. The ex-dividend date is Monday, June 5th. This represents a $0.30 annualized dividend and a yield of 1.00%. Symantec’s payout ratio is 9.35%. In related news, CAO Mark S. Garfield sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $29.25, for a total value of $87,808.50. Following the transaction, the chief accounting officer now owns 63,508 shares of the company’s stock, valued at approximately $1,857,609. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 18,069 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $29.39, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 100,429 shares of company stock worth $3,091,230. 0.76% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. boosted its position in Symantec by 24.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,308,832 shares of the technology company’s stock valued at $133,252,000 after buying an additional 1,038,202 shares in the last quarter. Advisor Group Inc. boosted its position in Symantec by 18.3% in the third quarter. Advisor Group Inc. now owns 4,636 shares of the technology company’s stock valued at $117,000 after buying an additional 717 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Symantec by 37.5% in the third quarter. Ameriprise Financial Inc. now owns 408,635 shares of the technology company’s stock valued at $10,256,000 after buying an additional 111,393 shares in the last quarter. Sandy Spring Bank boosted its position in Symantec by 6.3% in the third quarter. Sandy Spring Bank now owns 126,587 shares of the technology company’s stock valued at $3,215,000 after buying an additional 7,508 shares in the last quarter. Finally, AO Asset Management LLC purchased a new position in Symantec during the third quarter valued at approximately $9,508,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors. 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.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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