Synnex Corp. (SNX) Hits New 1-Year High at $106.01
Synnex Corp. (NYSE:SNX)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $106.01 and last traded at $105.57, with a volume of 67,208 shares changing hands. The stock had previously closed at $104.71.
Several equities analysts recently commented on SNX shares. Raymond James Financial Inc. raised shares of Synnex Corp. from an “underperform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Wednesday, May 18th. Zacks Investment Research lowered shares of Synnex Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Brean Capital reissued a “buy” rating and issued a $108.00 price target (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Needham & Company LLC reissued a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Citigroup Inc. lowered shares of Synnex Corp. from a “buy” rating to a “neutral” rating in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $97.80.
The company has a market cap of $4.22 billion and a PE ratio of 21.00. The firm’s 50 day moving average price is $100.23 and its 200 day moving average price is $92.39.
Synnex Corp. (NYSE:SNX) last released its earnings results on Thursday, June 23rd. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.31 by $0.06. The company earned $3.38 billion during the quarter. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts forecast that Synnex Corp. will post $6.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, July 13th.
In related news, CEO Kevin M. Murai sold 3,300 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $90.02, for a total transaction of $297,066.00. Following the sale, the chief executive officer now owns 136,434 shares of the company’s stock, valued at $12,281,788.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Duane E. Zitzner sold 950 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $105.00, for a total transaction of $99,750.00. Following the sale, the director now directly owns 14,400 shares in the company, valued at approximately $1,512,000. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Synnex Corp. stock. Systematic Financial Management LP purchased a new position in shares of Synnex Corp. (NYSE:SNX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,720 shares of the company’s stock, valued at approximately $1,683,000.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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