Symantec Corporation (SYMC) Shares Gap Down to $33.92

Symantec Corporation (NASDAQ:SYMC) shares gapped down before the market opened on Monday . The stock had previously closed at $34.95, but opened at $33.92. Symantec Corporation shares last traded at $32.63, with a volume of 8,165,742 shares traded.

A number of research firms have weighed in on SYMC. Barclays PLC reissued an “overweight” rating and set a $36.00 target price (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Robert W. Baird reissued a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Monday, July 31st. BidaskClub raised shares of Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $35.00 target price (up previously from $33.00) on shares of Symantec Corporation in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Symantec Corporation has an average rating of “Hold” and a consensus price target of $31.42.

The company’s 50-day moving average price is $31.90 and its 200-day moving average price is $30.51. The stock’s market cap is $19.36 billion.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. Equities research analysts predict that Symantec Corporation will post $1.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 21st were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.

In related news, SVP Amy L. Cappellanti-Wolf sold 927 shares of Symantec Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the sale, the senior vice president now directly owns 112,907 shares in the company, valued at approximately $3,387,210. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the sale, the senior vice president now owns 115,997 shares in the company, valued at $3,462,510.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,662,816 shares of company stock worth $48,437,529 over the last ninety days. 1.30% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of SYMC. Northwestern Mutual Wealth Management Co. boosted its position in Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares during the period. Sun Life Financial INC boosted its position in Symantec Corporation by 44,100.0% during the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after buying an additional 4,410 shares during the period. Harfst & Associates Inc. acquired a new stake in Symantec Corporation during the 2nd quarter worth approximately $127,000. Johnson Financial Group Inc. boosted its position in Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after buying an additional 325 shares during the period. Finally, Yakira Capital Management Inc. acquired a new stake in Symantec Corporation during the 1st quarter worth approximately $217,000. Institutional investors and hedge funds own 91.65% of the company’s stock.

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Symantec Corporation Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

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