Symantec (NASDAQ:SYMC) Rating Reiterated by William Blair

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Symantec (NASDAQ:SYMC)‘s stock had its “market perform” rating reiterated by analysts at William Blair in a report released on Friday, Zacks.com reports.

A number of other equities research analysts have also recently commented on SYMC. Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Argus restated a “hold” rating on shares of Symantec in a research note on Tuesday. Jefferies Financial Group decreased their target price on shares of Symantec from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Mizuho upgraded shares of Symantec from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.00 to $23.00 in a research note on Monday, June 17th. Finally, ValuEngine cut shares of Symantec from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.64.

NASDAQ SYMC opened at $21.67 on Friday. Symantec has a 12 month low of $17.42 and a 12 month high of $26.07. The company has a market cap of $14.20 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. The business’s 50 day moving average price is $22.81. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85.

Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, August 8th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Symantec had a net margin of 2.43% and a return on equity of 14.55%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $0.34 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Symantec will post 1.26 earnings per share for the current fiscal year.

In related news, Director Peter A. Feld acquired 650,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average cost of $19.51 per share, with a total value of $12,681,500.00. Following the acquisition, the director now directly owns 22,117 shares in the company, valued at approximately $431,502.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of SYMC. Dimensional Fund Advisors LP raised its stake in shares of Symantec by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,607,248 shares of the technology company’s stock valued at $30,367,000 after acquiring an additional 53,755 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Symantec by 4.4% during the fourth quarter. American Century Companies Inc. now owns 10,927 shares of the technology company’s stock valued at $206,000 after acquiring an additional 460 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Symantec by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 102,412 shares of the technology company’s stock valued at $2,354,000 after acquiring an additional 2,772 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Symantec by 3.8% during the first quarter. Retirement Systems of Alabama now owns 297,649 shares of the technology company’s stock valued at $6,843,000 after acquiring an additional 11,018 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Symantec by 19.0% during the first quarter. Meeder Asset Management Inc. now owns 65,233 shares of the technology company’s stock valued at $1,500,000 after acquiring an additional 10,415 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

About Symantec

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.

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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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