Synnex Corp. (SNX) Major Shareholder Star Developments Ltd Silver Sells 5,000 Shares
Synnex Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $106.46, for a total transaction of $532,300.00. Following the completion of the transaction, the insider now directly owns 5,550,364 shares of the company’s stock, valued at approximately $590,891,751.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Synnex Corp. (NYSE:SNX) opened at 104.71 on Wednesday. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80. The firm has a 50 day moving average price of $107.29 and a 200-day moving average price of $96.59. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 19.73 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.17. The firm earned $3.67 billion during the quarter. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. On average, equities analysts forecast that Synnex Corp. will post $6.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio is currently 18.83%.
Several research firms have recently commented on SNX. Stifel Nicolaus raised their price objective on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. raised their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, September 27th. Zacks Investment Research cut shares of Synnex Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $106.71.
Large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its stake in shares of Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $123,000 after buying an additional 600 shares in the last quarter. Societe Generale acquired a new stake in shares of Synnex Corp. during the second quarter valued at about $156,000. LS Investment Advisors LLC increased its stake in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock valued at $164,000 after buying an additional 708 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Synnex Corp. during the second quarter valued at about $175,000. 75.36% of the stock is owned by hedge funds and other institutional investors.
About Synnex Corp.
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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