Gen Digital (NASDAQ:GEN) Stock Price Target Lowered at Royal Bank Of Canada

Gen Digital (NASDAQ:GEN) had its price target decreased by Royal Bank Of Canada from $26.00 to $24.00 in a research note published on Monday, Marketbeat reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

A number of other brokerages have also recently issued reports on GEN. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings cut shares of Gen Digital from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Barclays boosted their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company boosted their target price on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gen Digital has an average rating of “Hold” and an average price target of $30.25.

Gen Digital Price Performance

NASDAQ:GEN opened at $23.35 on Monday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50-day simple moving average is $27.53 and its 200 day simple moving average is $24.80. The company has a market cap of $13.98 billion, a P/E ratio of 13.58, a P/E/G ratio of 0.73 and a beta of 1.26. Gen Digital has a 52-week low of $17.78 and a 52-week high of $31.65.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, sell-side analysts forecast that Gen Digital will post 2.66 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were issued a dividend of $0.1250 per share. This represents a $0.50 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling

In related news, insider Travis Witteveen sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ondrej Vlcek sold 200,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total value of $6,000,000.00. Following the completion of the sale, the director owned 3,332,904 shares of the company’s stock, valued at $99,987,120. This trade represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 558,508 shares of company stock valued at $16,356,093. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Gen Digital

A number of institutional investors have recently modified their holdings of GEN. GAMMA Investing LLC grew its stake in shares of Gen Digital by 10.3% in the third quarter. GAMMA Investing LLC now owns 38,455 shares of the company’s stock valued at $847,000 after acquiring an additional 3,588 shares in the last quarter. Farther Finance Advisors LLC increased its position in Gen Digital by 12.6% during the third quarter. Farther Finance Advisors LLC now owns 13,415 shares of the company’s stock worth $295,000 after acquiring an additional 1,496 shares during the period. Artemis Investment Management LLP increased its position in Gen Digital by 285.2% during the third quarter. Artemis Investment Management LLP now owns 550,971 shares of the company’s stock worth $12,132,000 after acquiring an additional 407,924 shares during the period. National Pension Service increased its position in Gen Digital by 254.6% during the second quarter. National Pension Service now owns 257,971 shares of the company’s stock worth $6,421,000 after acquiring an additional 185,219 shares during the period. Finally, Capital Analysts LLC raised its stake in Gen Digital by 38.7% in the 2nd quarter. Capital Analysts LLC now owns 7,337 shares of the company’s stock worth $183,000 after purchasing an additional 2,049 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Gen Digital Company Profile

Gen Digital Inc is a global cybersecurity and digital safety company that provides products and services designed to help consumers protect their devices, online privacy, personal information and digital identities. Its offerings include antivirus and malware protection, online privacy tools, identity theft protection, password management, scam and fraud protection, and utilities that support device performance and security.

The company markets its products under a portfolio of well-known brands, including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner.