Investors Sell Symantec Corp. (SYMC) on Strength (SYMC)
Traders sold shares of Symantec Corp. (NASDAQ:SYMC) on strength during trading on Tuesday. $18.16 million flowed into the stock on the tick-up and $30.57 million flowed out of the stock on the tick-down, for a money net flow of $12.41 million out of the stock. Of all equities tracked, Symantec Corp. had the 0th highest net out-flow for the day. Symantec Corp. traded up $0.13 for the day and closed at $20.68
Several research analysts have recently commented on SYMC shares. Evercore ISI started coverage on Symantec Corp. in a research report on Thursday, April 14th. They issued a “sell” rating for the company. Standpoint Research lowered Symantec Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Bank of America Corp. reissued a “sell” rating and issued a $16.50 price target on shares of Symantec Corp. in a research report on Thursday, June 16th. Zacks Investment Research upgraded Symantec Corp. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, April 6th. Finally, Raymond James Financial Inc. downgraded Symantec Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $21.66.
The firm has a 50-day moving average price of $20.44 and a 200-day moving average price of $18.79. The firm has a market capitalization of $12.66 billion and a P/E ratio of 5.58.
Symantec Corp. (NASDAQ:SYMC) last posted its earnings results on Thursday, May 12th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the business earned $0.43 EPS. The firm earned $873 million during the quarter, compared to analyst estimates of $878.66 million. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts forecast that Symantec Corp. will post $1.09 earnings per share for the current fiscal year.
In other news, Director Suzanne M. Vautrinot sold 3,750 shares of Symantec Corp. stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $20.39, for a total transaction of $76,462.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 11,852 shares of Symantec Corp. stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $18.76, for a total value of $222,343.52. Following the sale, the chief accounting officer now owns 68,489 shares in the company, valued at approximately $1,284,853.64. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its stake in Symantec Corp. by 7.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 142,797 shares of the company’s stock worth $2,999,000 after buying an additional 9,343 shares during the period. Morgan Stanley boosted its stake in Symantec Corp. by 55.6% in the fourth quarter. Morgan Stanley now owns 1,380,648 shares of the company’s stock worth $28,993,000 after buying an additional 493,352 shares during the period. Bank of Montreal Can boosted its stake in Symantec Corp. by 185.9% in the fourth quarter. Bank of Montreal Can now owns 1,438,834 shares of the company’s stock worth $30,216,000 after buying an additional 935,499 shares during the period. Principal Financial Group Inc. boosted its stake in Symantec Corp. by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,238,303 shares of the company’s stock worth $26,004,000 after buying an additional 7,497 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in Symantec Corp. by 6.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 90,609 shares of the company’s stock worth $1,903,000 after buying an additional 5,390 shares during the period.
Symantec Corporation is a United States-based company, which offers security, backup and availability solutions. The Company’s segments include Consumer Security and Enterprise Security. Its Consumer Security segment focuses on customers to be productive and protected at home and at work. Its Norton-branded services provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals, families and small businesses.
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