BTIG Research Upgrades Symantec Corporation to Buy

Brokerage firm BTIG Research Upgrades its rating on Symantec Corporation(NASDAQ:SYMC). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by BTIG Research was issued on Jun 16, 2016.

In a different note, On Apr 29, 2016, Citigroup said it Maintains its rating on Symantec Corporation. In the research note, the firm Lowers the price-target to $19.00 per share. The shares have been rated ‘Buy’ by the firm. On Apr 29, 2016, Raymond James said it Downgrades its rating on Symantec Corporation. The shares have been rated ‘Market Perform’ by the firm. On Apr 28, 2016, Wunderlich said it Maintains its rating on Symantec Corporation. In the research note, the firm Lowers the price-target to $25.00 per share. The shares have been rated ‘Hold’ by the firm. On Mar 21, 2016, Goldman Sachs said it Assumes its rating on Symantec Corporation. The shares have been rated ‘Neutral’ by the firm.

Symantec Corporation (SYMC) made into the market gainers list on Tuesdays trading session with the shares advancing 2.20% or 0.45 points. Due to strong positive momentum, the stock ended at $20.92, which is also near the day’s high of $21.08. The stock began the session at $20.5 and the volume stood at 1,25,86,391 shares. The 52-week high of the shares is $24.39 and the 52 week low is $16.14. The company has a current market capitalization of $12,809 M and it has 61,22,92,090 shares in outstanding.

Symantec Corporation(SYMC) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $873.00M. Analysts had an estimated revenue of $878.66M. Earnings per share were $0.22. Analysts had estimated an EPS of $0.23.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 per share price.Also, On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 per share price.On Dec 4, 2015, Brett Shirk (EVP, Veritas Worldwide Sales) sold 6,628 shares at $19.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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