Symantec Corp. (SYMC) Sets New 12-Month High at $24.42
Symantec Corp. (NASDAQ:SYMC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.42 and last traded at $24.28, with a volume of 4,337,900 shares. The stock had previously closed at $24.15.
A number of analysts recently issued reports on SYMC shares. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $26.00 target price on shares of Symantec Corp. in a research report on Monday, August 15th. Pacific Crest reissued a “hold” rating on shares of Symantec Corp. in a research report on Sunday, May 22nd. Zacks Investment Research cut Symantec Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 17th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $27.00 target price (up from $24.00) on shares of Symantec Corp. in a research report on Monday, August 8th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Symantec Corp. in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.72.
The company’s 50 day moving average price is $22.04 and its 200 day moving average price is $19.38. The company has a market cap of $14.95 billion and a PE ratio of 6.33.
Symantec Corp. (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $884 million for the quarter, compared to analyst estimates of $876.96 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Symantec Corp. will post $1.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, August 18th. This represents a $0.30 annualized dividend and a dividend yield of 1.24%.
In other news, CAO Mark S. Garfield sold 11,852 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The stock was sold at an average price of $18.76, for a total transaction of $222,343.52. Following the completion of the transaction, the chief accounting officer now directly owns 68,489 shares in the company, valued at $1,284,853.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $20.60, for a total value of $77,250.00. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Symantec Corp. stock. BlackRock Advisors LLC raised its stake in Symantec Corp. (NASDAQ:SYMC) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 734,592 shares of the company’s stock after buying an additional 160,350 shares during the period. BlackRock Advisors LLC owned about 0.11% of Symantec Corp. worth $15,427,000 as of its most recent SEC filing.
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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