Symantec Co. (NASDAQ:SYMC) Director Peter A. Feld bought 650,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $19.51 per share, with a total value of $12,681,500.00. Following the completion of the acquisition, the director now directly owns 22,117 shares of the company’s stock, valued at approximately $431,502.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of SYMC opened at $19.84 on Friday. The company has a market cap of $12.68 billion, a P/E ratio of 16.96, a PEG ratio of 1.95 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 0.85 and a debt-to-equity ratio of 0.69. Symantec Co. has a twelve month low of $17.42 and a twelve month high of $24.77.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Symantec had a net margin of 0.59% and a return on equity of 13.05%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. On average, sell-side analysts anticipate that Symantec Co. will post 1.26 EPS for the current fiscal year.
SYMC has been the subject of several recent research reports. Mizuho initiated coverage on shares of Symantec in a report on Tuesday, March 26th. They set a “neutral” rating and a $25.00 target price for the company. Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday. Goldman Sachs Group upgraded shares of Symantec from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $28.00 in a report on Monday, April 8th. BidaskClub lowered shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Symantec in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.13.
Several institutional investors and hedge funds have recently made changes to their positions in SYMC. CI Investments Inc. bought a new stake in shares of Symantec during the fourth quarter valued at approximately $192,976,000. Norges Bank bought a new stake in shares of Symantec during the fourth quarter valued at approximately $97,166,000. FMR LLC increased its position in shares of Symantec by 44.1% during the fourth quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock valued at $165,892,000 after acquiring an additional 2,686,107 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Symantec by 651.6% during the first quarter. Renaissance Technologies LLC now owns 2,510,738 shares of the technology company’s stock valued at $57,722,000 after acquiring an additional 2,176,700 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Symantec by 299.8% during the fourth quarter. Bank of Nova Scotia now owns 2,858,792 shares of the technology company’s stock valued at $54,015,000 after acquiring an additional 2,143,686 shares in the last quarter. 89.96% of the stock is owned by institutional investors.
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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