Symantec (NASDAQ:SYMC) Upgraded at BidaskClub

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BidaskClub upgraded shares of Symantec (NASDAQ:SYMC) from a sell rating to a hold rating in a report published on Friday, BidAskClub reports.

SYMC has been the subject of a number of other reports. Robert W. Baird reissued a hold rating and issued a $22.00 price target on shares of Symantec in a research report on Tuesday, May 28th. Argus reissued a hold rating on shares of Symantec in a research report on Tuesday, August 13th. Jefferies Financial Group reduced their price target on shares of Symantec from $22.00 to $19.00 and set a hold rating for the company in a research report on Friday, May 10th. ValuEngine lowered shares of Symantec from a hold rating to a sell rating in a research report on Tuesday, August 6th. Finally, Evercore ISI set a $22.00 price target on shares of Symantec and gave the stock a hold rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $22.77.

NASDAQ SYMC opened at $23.51 on Friday. The company has a 50 day simple moving average of $22.98 and a 200-day simple moving average of $22.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.85. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.55 and a beta of 1.33. Symantec has a 52-week low of $17.42 and a 52-week high of $26.07.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.19 billion. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, analysts predict that Symantec will post 1.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Monday, August 26th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, August 23rd. Symantec’s payout ratio is presently 25.64%.

In other Symantec news, Director Peter A. Feld acquired 1,325,814 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now owns 24,685 shares in the company, valued at $566,520.75. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in SYMC. Nomura Holdings Inc. grew its holdings in Symantec by 28,835.0% during the second quarter. Nomura Holdings Inc. now owns 7,455,970 shares of the technology company’s stock valued at $164,223,000 after purchasing an additional 7,430,202 shares during the last quarter. Beutel Goodman & Co Ltd. grew its holdings in Symantec by 129.2% during the second quarter. Beutel Goodman & Co Ltd. now owns 12,061,353 shares of the technology company’s stock valued at $203,502,000 after purchasing an additional 6,799,400 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Symantec by 96.4% during the second quarter. Wells Fargo & Company MN now owns 6,345,510 shares of the technology company’s stock valued at $138,079,000 after purchasing an additional 3,114,122 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Symantec by 12,780.9% during the second quarter. Nuveen Asset Management LLC now owns 2,019,599 shares of the technology company’s stock valued at $43,947,000 after purchasing an additional 2,003,920 shares during the last quarter. Finally, Starboard Value LP grew its holdings in Symantec by 5.6% during the second quarter. Starboard Value LP now owns 38,000,796 shares of the technology company’s stock valued at $826,897,000 after purchasing an additional 2,000,000 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

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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