Traders Buy Symantec (SYMC) on Weakness

Investors purchased shares of Symantec Co. (NASDAQ:SYMC) on weakness during trading hours on Monday. $37.68 million flowed into the stock on the tick-up and $9.99 million flowed out of the stock on the tick-down, for a money net flow of $27.69 million into the stock. Of all companies tracked, Symantec had the 12th highest net in-flow for the day. Symantec traded down ($0.10) for the day and closed at $19.37

SYMC has been the subject of several research analyst reports. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. TheStreet downgraded Symantec from a “b” rating to a “c+” rating in a research note on Thursday, May 10th. Barclays downgraded Symantec from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 11th. First Analysis downgraded Symantec from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $35.00 to $23.00 in a research note on Friday, May 11th. Finally, Morgan Stanley lowered their target price on Symantec from $26.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, June 25th. Five research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have given a buy rating to the company. Symantec has a consensus rating of “Hold” and a consensus target price of $24.64.

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.16 and a quick ratio of 1.15. The company has a market cap of $11.92 billion, a PE ratio of 20.32, a P/E/G ratio of 2.70 and a beta of 0.67.

Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. equities research analysts predict that Symantec Co. will post 0.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Monday, August 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, August 17th. Symantec’s dividend payout ratio is currently 31.58%.

Institutional investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. boosted its holdings in Symantec by 1,229.6% in the second quarter. Nomura Holdings Inc. now owns 723,585 shares of the technology company’s stock valued at $14,942,000 after acquiring an additional 669,165 shares during the last quarter. Andra AP fonden boosted its holdings in Symantec by 8.9% in the second quarter. Andra AP fonden now owns 135,900 shares of the technology company’s stock valued at $2,806,000 after acquiring an additional 11,100 shares during the last quarter. Global X Management Co LLC boosted its holdings in Symantec by 87.6% in the second quarter. Global X Management Co LLC now owns 27,329 shares of the technology company’s stock valued at $564,000 after acquiring an additional 12,758 shares during the last quarter. HPM Partners LLC boosted its holdings in Symantec by 9.7% in the second quarter. HPM Partners LLC now owns 131,943 shares of the technology company’s stock valued at $2,725,000 after acquiring an additional 11,613 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in Symantec in the second quarter valued at approximately $6,903,000. 95.21% of the stock is owned by institutional investors.

About Symantec (NASDAQ:SYMC)

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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