Symantec (NASDAQ:SYMC) Cut to “Hold” at ValuEngine
A number of other research analysts have also recently weighed in on SYMC. Cowen cut their price objective on shares of Nordstrom from $44.00 to $36.00 and set a market perform rating for the company in a report on Thursday, May 23rd. Mizuho set a $11.00 price objective on shares of Teva Pharmaceutical Industries and gave the company a hold rating in a report on Monday, June 17th. Zacks Investment Research cut shares of HEXO from a hold rating to a sell rating in a report on Wednesday, May 15th. Wedbush reaffirmed a neutral rating and issued a $28.00 price objective (up previously from $26.00) on shares of Symantec in a report on Thursday, July 4th. Finally, Jefferies Financial Group set a €20.00 ($23.26) price objective on shares of ThyssenKrupp and gave the company a buy rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Symantec presently has a consensus rating of Hold and an average price target of $21.44.
Shares of Symantec stock opened at $23.00 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $21.45. Symantec has a 1 year low of $17.42 and a 1 year high of $26.07. The stock has a market capitalization of $14.02 billion, a PE ratio of 19.66, a PEG ratio of 2.28 and a beta of 1.31.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.30%. Symantec’s dividend payout ratio is currently 25.64%.
In related news, Director Peter A. Feld bought 650,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $19.51 per share, with a total value of $12,681,500.00. Following the completion of the purchase, the director now directly owns 22,117 shares of the company’s stock, valued at $431,502.67. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in SYMC. CI Investments Inc. acquired a new position in Symantec during the fourth quarter worth about $192,976,000. Norges Bank acquired a new position in Symantec during the fourth quarter worth about $97,166,000. FMR LLC boosted its position in Symantec by 44.1% during the fourth quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock worth $165,892,000 after acquiring an additional 2,686,107 shares during the last quarter. AQR Capital Management LLC boosted its position in Symantec by 9.9% during the first quarter. AQR Capital Management LLC now owns 13,861,111 shares of the technology company’s stock worth $317,281,000 after acquiring an additional 1,249,429 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Symantec by 2.7% during the first quarter. BlackRock Inc. now owns 43,461,601 shares of the technology company’s stock worth $999,183,000 after acquiring an additional 1,152,103 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
Recommended Story: Trading based on a resistance level
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.