Symantec Corporation (SYMC) Downgraded by Standpoint Research to “Hold”

Symantec Corporation (NASDAQ:SYMC) was downgraded by investment analysts at Standpoint Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, October 9th, Marketbeat.com reports.

A number of other research firms also recently weighed in on SYMC. Cowen and Company downgraded shares of Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Monday, October 9th. Piper Jaffray Companies reissued a “buy” rating and set a $40.00 target price on shares of Symantec Corporation in a research report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. 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. Finally, Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.52.

Shares of Symantec Corporation (NASDAQ:SYMC) traded up 0.65% during midday trading on Monday, hitting $32.36. 675,589 shares of the stock were exchanged. The firm’s market cap is $19.83 billion. The stock’s 50 day moving average is $32.35 and its 200 day moving average is $30.57. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20.

Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

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In other news, Director Anita M. Sands sold 2,000 shares of Symantec Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the sale, the director now owns 37,386 shares in the company, valued at approximately $1,252,804.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,660,816 shares of company stock valued at $48,376,729 in the last ninety days. Insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in Symantec Corporation by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after purchasing an additional 246 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Symantec Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock valued at $617,000 after purchasing an additional 290 shares during the last quarter. Blair William & Co. IL lifted its position in Symantec Corporation by 2.2% in the second quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after purchasing an additional 291 shares during the last quarter. Finally, Northwes

A number of other research firms also recently weighed in on SYMC. Cowen and Company downgraded shares of Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Monday, October 9th. Piper Jaffray Companies reissued a “buy” rating and set a $40.00 target price on shares of Symantec Corporation in a research report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. 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. Finally, Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.52.

Shares of Symantec Corporation (NASDAQ:SYMC) traded up 0.65% during midday trading on Monday, hitting $32.36. 675,589 shares of the stock were exchanged. The firm’s market cap is $19.83 billion. The stock’s 50 day moving average is $32.35 and its 200 day moving average is $30.57. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20.

Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This article was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another website, it was illegally stolen and republished in violation of international copyright and trademark laws. The legal version of this article can be read at https://ledgergazette.com/2017/10/19/symantec-corporation-symc-lowered-to-hold-at-standpoint-research.html.

In other news, Director Anita M. Sands sold 2,000 shares of Symantec Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the sale, the director now owns 37,386 shares in the company, valued at approximately $1,252,804.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The disclosure for this sale can be found here. Insiders have sold a total of 1,660,816 shares of company stock valued at $48,376,729 in the last ninety days. Insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in Symantec Corporation by 1.2% in the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock valued at $251,000 after purchasing an additional 246 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Symantec Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock valued at $617,000 after purchasing an additional 290 shares during the last quarter. Blair William & Co. IL lifted its position in Symantec Corporation by 2.2% in the second quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock valued at $376,000 after purchasing an additional 291 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 purchasing an additional 292 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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