Symantec Corp. (SYMC) Research Coverage Started at FBN Securities

FBN Securities began coverage on shares of Symantec Corp. (NASDAQ:SYMC) in a report issued on Thursday morning. The firm issued an outperform rating and a $29.00 target price on the stock.

A number of other research firms have also recently issued reports on SYMC. Nomura reaffirmed a hold rating on shares of Symantec Corp. in a research report on Wednesday, June 15th. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $24.00 price objective on shares of Symantec Corp. in a research report on Tuesday, July 5th. Royal Bank Of Canada raised their price objective on Symantec Corp. from $24.00 to $25.00 and gave the company an outperform rating in a research report on Friday, August 5th. Zacks Investment Research raised Symantec Corp. from a hold rating to a strong-buy rating and set a $25.00 price objective for the company in a research report on Tuesday, August 9th. Finally, JMP Securities reissued a buy rating on shares of Symantec Corp. in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $24.87.

Analyst Recommendations for Symantec Corp. (NASDAQ:SYMC)

Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.19 on Thursday. The firm has a 50-day moving average price of $24.81 and a 200-day moving average price of $20.73. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.72. The company has a market capitalization of $14.89 billion, a PE ratio of 6.31 and a beta of 1.10.

Symantec Corp. (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. Symantec Corp. had a return on equity of 13.56% and a net margin of 60.18%. The company earned $884 million during the quarter, compared to analysts’ expectations of $876.96 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts predict that Symantec Corp. will post $1.12 EPS for the current year.

In other news, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $24.88, for a total value of $384,993.12. Following the transaction, the senior vice president now directly owns 112,103 shares of the company’s stock, valued at approximately $2,789,122.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francis C. Rosch sold 3,336 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the completion of the transaction, the executive vice president now directly owns 299,895 shares in the company, valued at $7,461,387.60. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SYMC. Vanguard Group Inc. increased its position in shares of Symantec Corp. by 15.2% in the second quarter. Vanguard Group Inc. now owns 55,082,579 shares of the company’s stock worth $1,131,397,000 after buying an additional 7,251,961 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Symantec Corp. by 16.5% in the second quarter. Franklin Resources Inc. now owns 43,491,263 shares of the company’s stock worth $893,312,000 after buying an additional 6,147,041 shares in the last quarter. Elliott Management Corp increased its position in shares of Symantec Corp. by 130.5% in the first quarter. Elliott Management Corp now owns 11,527,275 shares of the company’s stock worth $211,871,000 after buying an additional 6,527,275 shares in the last quarter. LSV Asset Management increased its position in shares of Symantec Corp. by 6.1% in the second quarter. LSV Asset Management now owns 9,870,223 shares of the company’s stock worth $202,734,000 after buying an additional 566,600 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in shares of Symantec Corp. by 9.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 7,988,451 shares of the company’s stock worth $126,130,000 after buying an additional 709,147 shares in the last quarter. 95.15% of the stock is currently owned by institutional investors.

About Symantec Corp.

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.

5 Day Chart for NASDAQ:SYMC

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