Symantec Corp. (SYMC) Hits New 1-Year High at $23.87
Symantec Corp. (NASDAQ:SYMC) shares reached a new 52-week high on Monday . The company traded as high as $23.87 and last traded at $23.71, with a volume of 4,830,557 shares changing hands. The stock had previously closed at $23.72.
SYMC has been the subject of a number of recent research reports. Morgan Stanley reissued a “buy” rating and issued a $22.00 target price on shares of Symantec Corp. in a report on Friday, April 29th. Citigroup Inc. cut their target price on shares of Symantec Corp. from $19.00 to $17.50 and set a “buy” rating for the company in a report on Friday, April 29th. BTIG Research raised shares of Symantec Corp. from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Monday, June 13th. JMP Securities reissued a “buy” rating on shares of Symantec Corp. in a report on Wednesday, June 15th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Symantec Corp. in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.48.
The firm has a market cap of $14.69 billion and a price-to-earnings ratio of 6.23. The firm has a 50 day moving average price of $21.38 and a 200 day moving average price of $19.14.
Symantec Corp. (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. During the same quarter in the prior year, the company posted $0.40 earnings per share. The business had revenue of $884 million for the quarter, compared to analysts’ expectations of $876.96 million. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, August 18th.
In related 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 transaction of $222,343.52. Following the transaction, 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 SEC, which is available through this hyperlink. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $20.39, for a total value of $76,462.50. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Symantec Corp. by 32.5% in the fourth quarter. Victory Capital Management Inc. now owns 96,795 shares of the company’s stock valued at $2,033,000 after buying an additional 23,725 shares during the last quarter. I.G. Investment Management LTD. raised its position in Symantec Corp. by 4.0% in the fourth quarter. I.G. Investment Management LTD. now owns 404,210 shares of the company’s stock valued at $8,488,000 after buying an additional 15,500 shares during the last quarter. BlackRock Advisors LLC raised its position in Symantec Corp. by 27.9% in the fourth quarter. BlackRock Advisors LLC now owns 734,592 shares of the company’s stock valued at $15,427,000 after buying an additional 160,350 shares during the last quarter. Finally, American International Group Inc. raised its position in Symantec Corp. by 25.2% in the fourth quarter. American International Group Inc. now owns 16,451,830 shares of the company’s stock valued at $345,489,000 after buying an additional 3,315,714 shares during the last quarter.
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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