Symantec Corporation (SYMC) Receives Average Rating of “Hold” from Analysts

Symantec Corporation (NASDAQ:SYMC) has been given a consensus rating of “Hold” by the twenty-nine analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $31.50.

A number of research analysts recently weighed in on SYMC shares. Zacks Investment Research lowered Symantec Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Moffett Nathanson started coverage on Symantec Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 target price on the stock. Standpoint Research raised Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Credit Suisse Group started coverage on Symantec Corporation in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a report on Monday, July 31st.

In related news, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the completion of the sale, the insider now directly owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,660,816 shares of company stock valued at $48,376,729. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in SYMC. Municipal Employees Retirement System of Michigan lifted its position in shares of Symantec Corporation by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after buying an additional 290 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Symantec Corporation by 1.5% during the 1st quarter. Teachers Advisors LLC now owns 5,912,930 shares of the technology company’s stock worth $181,409,000 after buying an additional 86,475 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Symantec Corporation by 6.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 23,104 shares of the technology company’s stock worth $709,000 after buying an additional 1,420 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Symantec Corporation by 146.5% during the 1st quarter. Renaissance Technologies LLC now owns 960,638 shares of the technology company’s stock worth $29,472,000 after buying an additional 571,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Symantec Corporation by 3.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 2,142,989 shares of the technology company’s stock worth $65,747,000 after buying an additional 80,503 shares during the last quarter. Institutional investors and hedge funds own 91.54% of the company’s stock.

Shares of Symantec Corporation (NASDAQ SYMC) traded up 0.56% during trading on Thursday, reaching $32.33. The company’s stock had a trading volume of 3,896,684 shares. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $34.20. The company’s market cap is $19.81 billion. The stock’s 50 day moving average price is $32.35 and its 200 day moving average price is $30.57.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 EPS. Equities research analysts predict that Symantec Corporation will post $1.80 EPS for the current year.

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Symantec Corporation 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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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