Synnex Corp. (SNX) Hits New 1-Year High at $103.11
Shares of Synnex Corp. (NYSE:SNX) reached a new 52-week high on Thursday . The stock traded as high as $103.11 and last traded at $102.45, with a volume of 98,866 shares changing hands. The stock had previously closed at $102.65.
Several research firms recently weighed in on SNX. Citigroup Inc. downgraded shares of Synnex Corp. from a “buy” rating to a “neutral” rating in a report on Monday, May 2nd. Zacks Investment Research downgraded shares of Synnex Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. Finally, 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 research report on Friday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $97.80.
The stock has a 50 day moving average of $95.68 and a 200-day moving average of $89.87. The stock has a market capitalization of $4.03 billion and a price-to-earnings ratio of 20.08.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 23rd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.06. The firm had revenue of $3.38 billion for the quarter. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Synnex Corp. will post $6.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Wednesday, July 13th.
In related news, CEO Kevin M. Murai sold 9,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $80.03, for a total transaction of $792,297.00. Following the completion of the transaction, the chief executive officer now owns 143,034 shares of the company’s stock, valued at $11,447,011.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea M. Zulberti sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $99.36, for a total transaction of $248,400.00. Following the transaction, the director now directly owns 13,785 shares of the company’s stock, valued at approximately $1,369,677.60. The disclosure for this sale can be found here.
A number of institutional investors recently modified their holdings of SNX. California Public Employees Retirement System raised its position in shares of Synnex Corp. by 13.4% in the fourth quarter. California Public Employees Retirement System now owns 85,200 shares of the company’s stock valued at $7,662,000 after buying an additional 10,100 shares during the period. GSA Capital Partners LLP raised its position in shares of Synnex Corp. by 223.3% in the fourth quarter. GSA Capital Partners LLP now owns 26,964 shares of the company’s stock valued at $2,425,000 after buying an additional 18,624 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Synnex Corp. during the fourth quarter valued at approximately $2,238,000. Bragg Financial Advisors Inc raised its position in shares of Synnex Corp. by 28.1% in the fourth quarter. Bragg Financial Advisors Inc now owns 28,299 shares of the company’s stock valued at $2,545,000 after buying an additional 6,200 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Synnex Corp. by 731.1% in the fourth quarter. Advisors Asset Management Inc. now owns 19,771 shares of the company’s stock valued at $1,778,000 after buying an additional 17,392 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.