Symantec Target of Unusually High Options Trading (SYMC)
Symantec Corporation (NASDAQ:SYMC) was the recipient of unusually large options trading activity on Thursday. Traders purchased 48,540 call options on the stock. This is an increase of approximately 5,945% compared to the typical volume of 803 call options.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Symantec from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Standpoint Research lowered shares of Symantec from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Cowen lowered shares of Symantec from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a report on Monday, October 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $40.00 price objective on shares of Symantec in a report on Tuesday, September 12th. Finally, Morgan Stanley lowered shares of Symantec from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $37.00 to $34.00 in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.39.
In related news, Director Anita M. Sands sold 2,000 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $33.51, for a total value of $67,020.00. Following the completion of the transaction, the director now owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the transaction, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The disclosure for this sale can be found here. Insiders sold 447,225 shares of company stock valued at $13,081,030 in the last three months. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Commerce Bank boosted its stake in Symantec by 352.5% in the second quarter. Commerce Bank now owns 43,888 shares of the technology company’s stock valued at $1,240,000 after acquiring an additional 34,189 shares during the last quarter. Delta Lloyd Asset Management N.V. bought a new position in Symantec in the second quarter valued at approximately $1,830,000. Numeric Investors LLC boosted its stake in Symantec by 168.5% in the second quarter. Numeric Investors LLC now owns 54,500 shares of the technology company’s stock valued at $1,540,000 after acquiring an additional 34,200 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Symantec by 99.7% in the third quarter. Oakbrook Investments LLC now owns 51,180 shares of the technology company’s stock valued at $1,679,000 after acquiring an additional 25,550 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Symantec by 47.2% in the third quarter. BNP Paribas Arbitrage SA now owns 423,593 shares of the technology company’s stock valued at $13,898,000 after acquiring an additional 135,857 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.
Shares of Symantec (SYMC) opened at $28.98 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The firm has a market cap of $17,824.48, a P/E ratio of 45.63, a P/E/G ratio of 2.90 and a beta of 1.08. Symantec has a fifty-two week low of $23.77 and a fifty-two week high of $34.20.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. Symantec’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. research analysts expect that Symantec will post 1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Monday, November 20th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 17th. Symantec’s dividend payout ratio is currently -75.00%.
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Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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