Symantec Corporation (NASDAQ:SYMC) saw a significant increase in short interest in December. As of December 29th, there was short interest totalling 23,567,867 shares, an increase of 4.4% from the December 15th total of 22,580,258 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 3,644,458 shares, the days-to-cover ratio is currently 6.5 days.
A number of equities research analysts have recently weighed in on SYMC shares. BidaskClub downgraded Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday. CIBC restated an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating and set a $27.00 target price on shares of Symantec in a research report on Friday, November 3rd. Standpoint Research downgraded Symantec from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Cowen downgraded Symantec 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. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $32.29.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now owns 325,026 shares of the company’s stock, valued at $8,912,212.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now directly owns 565,319 shares in the company, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New England Research & Management Inc. increased its holdings in Symantec by 83.8% in the fourth quarter. New England Research & Management Inc. now owns 28,850 shares of the technology company’s stock valued at $810,000 after purchasing an additional 13,150 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in Symantec by 0.4% in the third quarter. Parametric Portfolio Associates LLC now owns 2,410,450 shares of the technology company’s stock valued at $79,087,000 after purchasing an additional 9,642 shares during the last quarter. Coastline Trust Co increased its holdings in Symantec by 109.2% in the third quarter. Coastline Trust Co now owns 22,104 shares of the technology company’s stock valued at $725,000 after purchasing an additional 11,540 shares during the last quarter. Afam Capital Inc. increased its holdings in Symantec by 1.8% in the third quarter. Afam Capital Inc. now owns 244,102 shares of the technology company’s stock valued at $8,009,000 after purchasing an additional 4,276 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Symantec by 2.5% in the third quarter. Neuberger Berman Group LLC now owns 7,499,042 shares of the technology company’s stock valued at $246,044,000 after purchasing an additional 183,766 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.
Shares of Symantec (NASDAQ SYMC) opened at $28.82 on Monday. The company has a market capitalization of $17,867.88, a PE ratio of -72.05, a P/E/G ratio of 2.91 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec has a fifty-two week low of $25.64 and a fifty-two week high of $34.20.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. equities analysts expect that Symantec will post 1.05 EPS for the current fiscal year.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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