Symantec Co. (NASDAQ:SYMC) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 13,442,302 shares, a decline of 24.6% from the October 31st total of 17,825,581 shares. Based on an average daily volume of 14,730,921 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.1% of the shares of the company are short sold.
A number of research firms have commented on SYMC. BidaskClub lowered shares of Symantec from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Zacks Investment Research restated a “sell” rating on shares of Symantec in a research note on Friday, November 16th. ValuEngine upgraded shares of Symantec from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Evercore ISI restated a “hold” rating and issued a $22.00 price objective on shares of Symantec in a research note on Sunday, November 11th. Finally, Barclays restated a “hold” rating and issued a $23.00 price objective on shares of Symantec in a research note on Sunday, November 4th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.11.
Hedge funds have recently added to or reduced their stakes in the stock. Tobam purchased a new stake in Symantec during the second quarter worth about $39,842,000. Morgan Stanley lifted its holdings in shares of Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock valued at $187,185,000 after purchasing an additional 5,508,428 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Symantec by 84.6% in the second quarter. Bridgewater Associates LP now owns 55,261 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 25,319 shares in the last quarter. Crosslink Capital Inc. purchased a new stake in shares of Symantec in the second quarter valued at about $9,798,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Symantec by 1,481.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,554,886 shares of the technology company’s stock valued at $33,088,000 after purchasing an additional 1,456,561 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities analysts anticipate that Symantec will post 1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s dividend payout ratio is currently 31.58%.
TRADEMARK VIOLATION WARNING: “Symantec Co. (SYMC) Short Interest Down 24.6% in November” was reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://www.com-unik.info/2018/12/02/symantec-co-symc-short-interest-down-24-6-in-november.html.
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
Further Reading: What are earnings reports?
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.