Guggenheim Securities Initiates Coverage on Symantec Corporation to Buy

Guggenheim Securities Initiates Coverage on Symantec Corporation(NASDAQ:SYMC). The shares have been rated Buy. The rating by Guggenheim Securities was issued on Sep 15, 2016.

In a different note, On Sep 13, 2016, Wunderlich said it Upgrades its rating on Symantec Corporation. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 22, 2016, Citigroup said it Maintains its rating on Symantec Corporation. In the research note, the firm Raises the price-target to $17.50 per share. The shares have been rated ‘Buy’ by the firm. On Aug 19, 2016, Citigroup said it Upgrades its rating on Symantec Corporation. In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Buy’ by the firm. On Aug 15, 2016, Morgan Stanley said it Assumes its rating on Symantec Corporation. The shares have been rated ‘Overweight’ by the firm. On Aug 5, 2016, Barclays said it Assumes its rating on Symantec Corporation. The shares have been rated ‘Equal-weight’ by the firm. On Aug 5, 2016, Oppenheimer said it Upgrades its rating on Symantec Corporation. The shares have been rated ‘Outperform’ by the firm.

Symantec Corporation (SYMC) shares turned negative on Tuesdays trading session with the shares closing down -0.13 points or -0.52% at a volume of 1,28,73,023. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $25.08. The peak price level was also seen at $25.08 while the days lowest was $24.52. Finally the shares closed at $24.71. The 52-week high of the shares is $25.365 while the 52-week low is $16.14. According to the latest information available, the market cap of the company is $15,211 M.

Symantec Corporation(SYMC) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $884.00M. Analysts had an estimated revenue of $877.01M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On Sep 8, 2016, Francis C Rosch (EVP, Norton Business Unit) sold 3,336 shares at $24.88 per share price.Also, On Jul 5, 2016, Suzanne M Vautrinot (director) sold 3,750 shares at $20.39 per share price.On Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 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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