Symantec Corp. (NASDAQ:SYMC) insider Michael David Fey sold 13,214 shares of Symantec Corp. stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $24.40, for a total value of $322,421.60. Following the sale, the insider now owns 288,953 shares of the company’s stock, valued at $7,050,453.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Symantec Corp. (NASDAQ:SYMC) opened at 24.22 on Wednesday. The firm has a 50-day moving average price of $24.81 and a 200-day moving average price of $20.77. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 6.32 and a beta of 1.10. Symantec Corp. has a 1-year low of $16.14 and a 1-year high of $25.72.
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, analysts expect that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
SYMC has been the subject of several analyst reports. Wells Fargo & Co. restated a “hold” rating on shares of Symantec Corp. in a report on Sunday, September 25th. Barclays PLC boosted their target price on Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, September 19th. BTIG Research restated a “buy” rating and issued a $28.00 target price on shares of Symantec Corp. in a report on Thursday, August 25th. FBN Securities initiated coverage on Symantec Corp. in a report on Thursday, October 13th. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Piper Jaffray Cos. set a $27.00 target price on Symantec Corp. and gave the stock a “buy” rating in a report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.87.
A number of hedge funds have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC purchased a new stake in Symantec Corp. during the second quarter valued at $109,000. Tower Research Capital LLC TRC boosted its stake in Symantec Corp. by 339.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the company’s stock valued at $109,000 after buying an additional 4,108 shares during the last quarter. MSI Financial Services Inc boosted its stake in Symantec Corp. by 8.1% in the third quarter. MSI Financial Services Inc now owns 5,618 shares of the company’s stock valued at $141,000 after buying an additional 420 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock valued at $119,000 after buying an additional 1,100 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in Symantec Corp. by 10,503.6% in the second quarter. Johnson Financial Group Inc. now owns 5,938 shares of the company’s stock valued at $122,000 after buying an additional 5,882 shares during the last quarter. 95.15% of the stock is owned by institutional investors and hedge funds.
Symantec Corp. Company Profile
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.
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