Symantec Corp. (SYMC) Sees Strong Trading Volume
Shares of Symantec Corp. (NASDAQ:SYMC) saw an uptick in trading volume on Tuesday . 17,530,742 shares were traded during trading, an increase of 69% from the previous session’s volume of 10,388,587 shares.The stock last traded at $20.69 and had previously closed at $20.80.
Several research firms have recently weighed in on SYMC. Topeka Capital Markets decreased their target price on Symantec Corp. from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Thursday, April 28th. Evercore ISI reiterated a “sell” rating on shares of Symantec Corp. in a research report on Saturday, May 14th. Citigroup Inc. reiterated a “hold” rating and set a $17.50 target price on shares of Symantec Corp. in a research report on Saturday, May 14th. Jefferies Group reiterated a “hold” rating on shares of Symantec Corp. in a research report on Saturday, May 14th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Symantec Corp. in a research report on Saturday, May 14th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the company. Symantec Corp. has a consensus rating of “Hold” and an average target price of $21.91.
The company has a market capitalization of $12.67 billion and a P/E ratio of 5.58. The stock’s 50-day moving average price is $19.57 and its 200 day moving average price is $18.79.
Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, May 12th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. The business earned $873 million during the quarter, compared to the consensus estimate of $878.66 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. Symantec Corp.’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Symantec Corp. will post $1.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 8th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Monday, June 6th.
In other Symantec Corp. news, CAO Mark S. Garfield sold 11,852 shares of the 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 of the company’s stock, valued at approximately $1,284,853.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $19.00, for a total value of $71,250.00. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of SYMC. Victory Capital Management Inc. raised its stake in Symantec Corp. by 32.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,795 shares of the company’s stock worth $2,033,000 after buying an additional 23,725 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position 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 last quarter. Principal Financial Group Inc. increased its position 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 last quarter. Bank of Montreal Can increased its position 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 last quarter. Finally, Morgan Stanley increased its position 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 last quarter.
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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