Synnex Corp. (SNX) Major Shareholder Star Developments Ltd Silver Sells 5,000 Shares
Synnex Corp. (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 5,000 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $106.46, for a total transaction of $532,300.00. Following the completion of the sale, the insider now owns 5,550,364 shares in the company, valued at approximately $590,891,751.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Synnex Corp. (NYSE:SNX) opened at 104.71 on Wednesday. The stock has a market cap of $4.17 billion, a P/E ratio of 19.73 and a beta of 1.10. Synnex Corp. has a 52-week low of $75.87 and a 52-week high of $118.80. The firm’s 50-day moving average is $107.29 and its 200 day moving average is $96.59.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.17. The company earned $3.67 billion during the quarter. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.47 EPS. Analysts forecast that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a $0.25 dividend. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.96%. Synnex Corp.’s dividend payout ratio (DPR) is presently 18.83%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock valued at $104,000 after buying an additional 300 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $123,000 after buying an additional 600 shares during the last quarter. Societe Generale acquired a new position in Synnex Corp. during the second quarter valued at approximately $156,000. LS Investment Advisors LLC raised its position in Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock valued at $164,000 after buying an additional 708 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Synnex Corp. during the second quarter valued at approximately $175,000. 75.36% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on SNX. Brean Capital reiterated a “buy” rating and set a $108.00 price target (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Credit Agricole SA increased their price target on shares of Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a report on Tuesday, September 27th. Stifel Nicolaus increased their price target on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, September 27th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. 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 stock. Synnex Corp. presently has an average rating of “Hold” and an average target price of $106.71.
Synnex Corp. Company Profile
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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