McAfee (NASDAQ:MCFE) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of McAfee (NASDAQ:MCFE) in a research note released on Wednesday, The Fly reports. The brokerage issued a neutral rating and a $26.00 target price on the stock.

MCFE has been the subject of a number of other reports. Piper Sandler lifted their target price on McAfee from $28.00 to $32.00 and gave the company an overweight rating in a research report on Wednesday, June 16th. UBS Group assumed coverage on McAfee in a research report on Tuesday, September 7th. They issued a neutral rating and a $29.00 price target for the company. Zacks Investment Research lowered McAfee from a hold rating to a sell rating in a research report on Wednesday, August 18th. Finally, Mizuho boosted their price target on McAfee from $28.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, June 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, McAfee presently has a consensus rating of Hold and a consensus price target of $25.54.

Shares of MCFE stock opened at $21.61 on Wednesday. The stock has a 50 day moving average price of $25.93 and a 200 day moving average price of $25.60. The firm has a market capitalization of $9.39 billion and a P/E ratio of -63.56. McAfee has a 52-week low of $14.80 and a 52-week high of $32.83.

McAfee (NASDAQ:MCFE) last issued its earnings results on Monday, August 9th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.10. The firm had revenue of $467.00 million for the quarter, compared to the consensus estimate of $433.98 million. The firm’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts anticipate that McAfee will post 0.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 8th. Investors of record on Friday, September 24th will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, September 23rd. This represents a $0.46 annualized dividend and a yield of 2.13%. McAfee’s dividend payout ratio (DPR) is 34.85%.

In other McAfee news, insider Venkat Bhamidipati sold 29,630 shares of the business’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $21.71, for a total transaction of $643,267.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Intel Americas, Inc. sold 9,665,332 shares of the business’s stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $21.71, for a total value of $209,834,357.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,168,402 shares of company stock worth $351,016,007. 0.61% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its stake in shares of McAfee by 218.4% in the first quarter. UBS Group AG now owns 99,907 shares of the company’s stock worth $2,273,000 after buying an additional 68,527 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of McAfee in the first quarter worth about $157,000. NWI Management LP purchased a new stake in shares of McAfee in the first quarter worth about $12,277,000. TimesSquare Capital Management LLC boosted its stake in shares of McAfee by 0.3% in the second quarter. TimesSquare Capital Management LLC now owns 2,930,900 shares of the company’s stock worth $82,124,000 after buying an additional 9,300 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of McAfee by 5.4% in the second quarter. Meeder Asset Management Inc. now owns 20,460 shares of the company’s stock worth $573,000 after buying an additional 1,048 shares during the last quarter. Institutional investors and hedge funds own 30.57% of the company’s stock.

About McAfee

McAfee Corp. provides various integrated security, privacy, and trust solutions to consumers, small and medium-sized businesses, large enterprises, and governments in the United States and internationally. The company operates in two segments, Consumer and Enterprise. Its security technologies enable home users and businesses to stay ahead of the wave of fileless attacks, viruses, malware, and other online threats.

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