Symantec (NASDAQ:SYMC) Reaches New 52-Week High at $26.09

Shares of Symantec Co. (NASDAQ:SYMC) reached a new 52-week high on Monday . The stock traded as high as $26.09 and last traded at $22.04, with a volume of 1529199 shares. The stock had previously closed at $25.57.

Several research analysts have recently weighed in on SYMC shares. BidaskClub upgraded Misonix from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 3rd. Monness Crespi & Hardt started coverage on Symantec in a research note on Wednesday, July 10th. They issued a “neutral” rating for the company. Morgan Stanley boosted their price target on from GBX 1,430 ($18.69) to GBX 1,560 ($20.38) and gave the stock an “equal weight” rating in a research note on Tuesday, June 11th. Wedbush restated a “neutral” rating and issued a $28.00 price target (up previously from $26.00) on shares of Symantec in a research note on Thursday, July 4th. Finally, Robert W. Baird initiated coverage on ANCHIANO THERAP/S in a research note on Tuesday, May 28th. They issued an “outperform” rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.00.

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $21.23. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.57 and a beta of 1.31.

Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share. As a group, analysts predict that Symantec Co. will post 1.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, June 7th. Symantec’s dividend payout ratio (DPR) is 25.64%.

In other Symantec news, Director Peter A. Feld acquired 650,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $19.51 per share, with a total value of $12,681,500.00. Following the completion of the purchase, the director now directly owns 22,117 shares in the company, valued at approximately $431,502.67. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covington Capital Management bought a new position in shares of Symantec in the fourth quarter worth about $28,000. Bronfman E.L. Rothschild L.P. boosted its stake in Symantec by 27.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock valued at $64,000 after buying an additional 718 shares during the last quarter. CX Institutional boosted its stake in Symantec by 133.1% during the first quarter. CX Institutional now owns 2,813 shares of the technology company’s stock valued at $65,000 after buying an additional 1,606 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in Symantec during the first quarter valued at approximately $76,000. Finally, Investors Research Corp bought a new position in Symantec during the first quarter valued at approximately $106,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Symantec (NASDAQ:SYMC)

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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