Piper Jaffray Companies set a $40.00 price objective on Symantec Corporation (NASDAQ:SYMC) in a research note published on Sunday. The firm currently has a buy rating on the technology company’s stock.

SYMC has been the topic of several other reports. Zacks Investment Research downgraded shares of Symantec Corporation from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Moffett Nathanson began coverage on shares of Symantec Corporation in a research report on Wednesday, September 6th. They set a neutral rating and a $33.00 price objective on the stock. Standpoint Research upgraded shares of Symantec Corporation from a hold rating to a buy rating in a research report on Thursday, June 29th. Credit Suisse Group began coverage on shares of Symantec Corporation in a research report on Tuesday, September 5th. They set an outperform rating and a $36.00 price objective on the stock. Finally, Royal Bank Of Canada restated a hold rating and set a $32.00 price objective on shares of Symantec Corporation in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. Symantec Corporation has a consensus rating of Hold and an average price target of $31.52.

Symantec Corporation (NASDAQ SYMC) opened at 32.01 on Friday. Symantec Corporation has a 1-year low of $22.76 and a 1-year high of $34.20. The company has a 50-day moving average of $32.23 and a 200-day moving average of $30.54. The stock’s market capitalization is $19.62 billion.

Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm earned $0.29 earnings per share. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Analysts anticipate that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

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In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec Corporation stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory S. Clark sold 186,433 shares of Symantec Corporation stock in a transaction on Monday, August 28th. The stock was sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the completion of the transaction, the chief executive officer now directly owns 1,321,671 shares of the company’s stock, valued at $39,650,130. The disclosure for this sale can be found here. Insiders sold a total of 1,660,816 shares of company stock valued at $48,376,729 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of the business. Ardsley Advisory Partners purchased a new position in shares of Symantec Corporation in the 2nd quarter worth $424,000. WINTON GROUP Ltd grew its stake in shares of Symantec Corporation by 884.0% in the 2nd quarter. WINTON GROUP Ltd now owns 400,288 shares of the technology company’s stock worth $11,308,000 after buying an additional 359,607 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Symantec Corporation in the 2nd quarter worth $795,000. Martin & Co. Inc. TN grew its stake in shares of Symantec Corporation by 0.8% in the 2nd quarter. Martin & Co. Inc. TN now owns 207,285 shares of the technology company’s stock worth $5,856,000 after buying an additional 1,575 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in shares of Symantec Corporation by 5.5% in the 2nd quarter. Scotia Capital Inc. now owns 26,613 shares of the technology company’s stock worth $752,000 after buying an additional 1,385 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

Symantec Corporation Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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