Symantec shares set for worst fall in 17 years

Posted May 12, 2018

548.16 million shares or 4.09% less from 571.53 million shares in 2017Q3 were reported. Also, the number of hedge funds holding Symantec Corp in their top 10 equity positions decreased from 12 to 8 for a decrease of 4. 45 funds opened positions while 139 raised stakes.

Symantec provides security, storage, and systems management solutions to help businesses and consumers secure and manage their information. The company has market cap of $18.14 billion. It operates through two segments, Consumer Digital Safety and Enterprise Security.

In other Symantec news, Director Suzanne M. Vautrinot sold 4,000 shares of the firm's stock in a transaction on Friday, March 9th.

Symantec (NASDAQ:SYMC) last announced its earnings results on Thursday, May 10th. The stock underperformed the S&P 500 by 27.83%.

Excluding items Symantec earned 46 cents per share.

The world's No. 1 maker of cybersecurity software said fiscal first-quarter profit will be 31 cents to 35 cents per share, compared with an estimate of 41 cents, according to data compiled by Bloomberg. Other Wall Street experts have also recently posted reports on these shares. On Wednesday, September 6 the stock rating was initiated by Moffett Nathanson with "Hold". Shares dropped to a low of $23.53 in extended trading after closing at $29.18 in NY. Turning to look at the last 6 months, this stock has added 1.74% to its price.

Ratings analysis reveals 25% of Symantec's analysts are positive. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have issued a buy rating to the company's stock. The lowest target is $21 while the high is $34. $29.22's average target is 0.14% above currents $29.18 stock price. SYMC was included in 12 notes of analysts from December 19, 2017.

Symantec (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, May 10th. BidaskClub cut shares of Symantec from a "sell" rating to a "strong sell" rating in a report on Saturday, January 13th. Piper Jaffray cut Symantec from an "overweight" rating to a "neutral" rating in a report on Thursday. The firm has "Underperform" rating by Bank of America given on Thursday, February 1. Jefferies maintained it with "Buy" rating and $7.0 target in Tuesday, October 10 report. Barclays Capital maintained Symantec Corporation (NASDAQ:SYMC) rating on Thursday, August 3. UBS lowered Symantec from an "outperform" rating to a "market perform" rating in a research note on Friday. As per Friday, May 11, the company rating was downgraded by PiperJaffray. The shares were sold at an average price of $27.61, for a total value of $1,139,851.24.

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