Synnex Corp. (SNX) Director Matthew Miau Sells 9,347 Shares of Stock
Synnex Corp. (NYSE:SNX) Director Matthew Miau sold 9,347 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $106.51, for a total value of $995,548.97. Following the transaction, the director now owns 374,420 shares of the company’s stock, valued at approximately $39,879,474.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Synnex Corp. (NYSE:SNX) opened at 104.23 on Tuesday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 19.64 and a beta of 1.10. The firm’s 50-day moving average price is $107.34 and its 200-day moving average price is $96.50. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The business earned $3.67 billion during the quarter. During the same period in the previous year, the company earned $1.47 EPS. Synnex Corp.’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts expect that Synnex Corp. will post $6.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, October 12th. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio (DPR) is currently 18.83%.
Several large investors have recently bought and sold shares of SNX. Vanguard Group Inc. boosted its stake in Synnex Corp. by 12.2% in the second quarter. Vanguard Group Inc. now owns 2,935,569 shares of the company’s stock valued at $278,350,000 after buying an additional 319,670 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Synnex Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,425,615 shares of the company’s stock valued at $135,177,000 after buying an additional 45,946 shares in the last quarter. State Street Corp boosted its stake in Synnex Corp. by 1.0% in the second quarter. State Street Corp now owns 900,446 shares of the company’s stock valued at $85,379,000 after buying an additional 8,892 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Synnex Corp. by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 883,556 shares of the company’s stock valued at $83,779,000 after buying an additional 18,825 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Synnex Corp. by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 786,864 shares of the company’s stock valued at $74,611,000 after buying an additional 269,364 shares in the last quarter. 75.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on SNX shares. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Brean Capital reiterated a “buy” rating and issued a $108.00 target price (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. Zacks Investment Research cut Synnex Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Stifel Nicolaus lifted their target price on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Synnex Corp. has a consensus rating of “Hold” and an average price target of $106.71.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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