Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $105.82, for a total value of $275,132.00. Following the completion of the transaction, the insider now directly owns 14,303 shares of the company’s stock, valued at $1,513,543.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Peter Larocque also recently made the following trade(s):
- On Wednesday, October 12th, Peter Larocque sold 9,551 shares of Synnex Corp. stock. The stock was sold at an average price of $106.62, for a total value of $1,018,327.62.
- On Friday, October 7th, Peter Larocque sold 2,400 shares of Synnex Corp. stock. The stock was sold at an average price of $111.28, for a total value of $267,072.00.
Shares of Synnex Corp. (NYSE:SNX) opened at 104.85 on Monday. The firm has a 50-day moving average price of $107.38 and a 200 day moving average price of $96.32. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The stock has a market capitalization of $4.17 billion, a PE ratio of 19.75 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The company had revenue of $3.67 billion for the quarter. During the same quarter last year, the business posted $1.47 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts expect that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a $0.25 dividend. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio (DPR) is 18.83%.
Several research analysts have recently weighed in on the company. Brean Capital reaffirmed a “buy” rating and set a $124.00 target price (up from $108.00) on shares of Synnex Corp. in a research note on Wednesday, September 28th. Zacks Investment Research downgraded Synnex Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a research note on Tuesday, September 27th. Credit Agricole SA upped their target price on Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a research note on Tuesday, September 27th. Finally, Stifel Nicolaus upped their target price on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Synnex Corp. presently has a consensus rating of “Hold” and an average target price of $106.71.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Synnex Corp. by 17.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,700 shares of the company’s stock valued at $2,437,000 after buying an additional 3,895 shares in the last quarter. AXA acquired a new stake in Synnex Corp. during the first quarter valued at approximately $2,037,000. Teachers Advisors Inc. boosted its stake in Synnex Corp. by 2.7% in the first quarter. Teachers Advisors Inc. now owns 42,554 shares of the company’s stock valued at $3,940,000 after buying an additional 1,130 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Synnex Corp. by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 46,158 shares of the company’s stock valued at $4,274,000 after buying an additional 1,555 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Synnex Corp. during the second quarter valued at approximately $22,606,000. Institutional investors own 75.36% of the company’s stock.
About Synnex Corp.
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.
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