Symantec Corporation (SYMC) Given Buy Rating at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Symantec Corporation (NASDAQ:SYMC) in a report published on Tuesday. Piper Jaffray Companies currently has a $40.00 price target on the technology company’s stock.

SYMC has been the topic of several other research reports. Barclays PLC reaffirmed an overweight rating and issued a $36.00 price objective (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Symantec Corporation from a hold rating to a strong sell rating in a research report on Tuesday, May 16th. Robert W. Baird reaffirmed a hold rating and issued a $32.00 price objective on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a hold rating and issued a $32.00 price objective on shares of Symantec Corporation in a research report on Monday, July 31st. Finally, BidaskClub raised Symantec Corporation from a sell rating to a hold rating in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Hold and an average price target of $31.54.

Shares of Symantec Corporation (NASDAQ:SYMC) traded up 0.88% during mid-day trading on Tuesday, reaching $33.24. The company had a trading volume of 9,577,891 shares. The stock’s market capitalization is $20.37 billion. The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $30.12. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $34.17.

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

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 21st were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is currently -49.18%.

In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 927 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.00, for a total value of $27,810.00. Following the completion of the sale, the senior vice president now directly owns 112,907 shares in the company, valued at $3,387,210. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael David Fey sold 1,348,831 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total value of $38,900,286.04. Following the completion of the sale, the insider now owns 1,605,757 shares of the company’s stock, valued at $46,310,031.88. The disclosure for this sale can be found here. Insiders have sold a total of 1,677,228 shares of company stock valued at $48,822,058 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in Symantec Corporation by 7.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after buying an additional 292 shares during the last quarter. Sun Life Financial INC raised its stake in Symantec Corporation by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after buying an additional 4,410 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in Symantec Corporation in the second quarter valued at about $127,000. Johnson Financial Group Inc. raised its stake in Symantec Corporation by 6.2% in the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after buying an additional 325 shares during the last quarter. Finally, American Asset Management Inc. purchased a new stake in Symantec Corporation in the first quarter valued at about $207,000. Institutional investors own 91.72% of the company’s stock.

About Symantec Corporation

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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