SYNNEX SNX (NYSE:SNX) “Buy” Rating Reconfirmed Today By Needham; The Price Objective Given is $145.00

September 27, 2017 - By Marie Mckinney

 SYNNEX SNX (NYSE:SNX)

Investors sentiment decreased to 1.14 in 2017 Q2. Its down 0.44, from 1.58 in 2017Q1. It dropped, as 28 investors sold SYNNEX Corporation shares while 71 reduced holdings. 33 funds opened positions while 80 raised stakes. 28.27 million shares or 0.33% less from 28.37 million shares in 2017Q1 were reported.

17,011 are owned by Ubs Asset Americas. Waddell Reed invested in 123,258 shares. Trexquant Invest L P has 0.3% invested in SYNNEX Corporation (NYSE:SNX). Exchange Capital stated it has 42,866 shares or 1.73% of all its holdings. Orrstown Financial Services invested 0% in SYNNEX Corporation (NYSE:SNX). Grantham Mayo Van Otterloo And Lc stated it has 0% in SYNNEX Corporation (NYSE:SNX). Citadel Limited Co has invested 0.04% in SYNNEX Corporation (NYSE:SNX). South Dakota Investment Council has 4,000 shares for 0.01% of their portfolio. Retirement Sys Of Alabama owns 37,563 shares. 49,900 were reported by Swiss National Bank. 7,963 are owned by Envestnet Asset Mngmt Incorporated. Panagora Asset Mngmt owns 1,109 shares or 0% of their US portfolio. Oppenheimer Asset Management accumulated 37 shares. Rhumbline Advisers owns 66,302 shares. Tiaa Cref Investment Mgmt Ltd Liability Company holds 169,789 shares.

Since April 3, 2017, it had 0 insider buys, and 11 sales for $1.56 million activity. MURAI KEVIN M sold $217,360 worth of SYNNEX Corporation (NYSE:SNX) on Tuesday, May 9. LEUNG SIMON also sold $9,552 worth of SYNNEX Corporation (NYSE:SNX) on Monday, April 3. The insider POLK DENNIS sold 1,500 shares worth $162,315.

SYNNEX SNX (NYSE:SNX) Rating Reaffirmed

In a research note issued to clients this morning, Needham reiterated their “Buy” rating on SYNNEX SNX (NYSE:SNX) shares. The target price per share gives a possible upside of 17.46 % from company’s previous close.

Investors sentiment decreased to 1.14 in 2017 Q2. Its down 0.44, from 1.58 in 2017Q1. It dropped, as 28 investors sold SYNNEX Corporation shares while 71 reduced holdings. 33 funds opened positions while 80 raised stakes. 28.27 million shares or 0.33% less from 28.37 million shares in 2017Q1 were reported.

17,011 are owned by Ubs Asset Americas. Waddell Reed invested in 123,258 shares. Trexquant Invest L P has 0.3% invested in SYNNEX Corporation (NYSE:SNX). Exchange Capital stated it has 42,866 shares or 1.73% of all its holdings. Orrstown Financial Services invested 0% in SYNNEX Corporation (NYSE:SNX). Grantham Mayo Van Otterloo And Lc stated it has 0% in SYNNEX Corporation (NYSE:SNX). Citadel Limited Co has invested 0.04% in SYNNEX Corporation (NYSE:SNX). South Dakota Investment Council has 4,000 shares for 0.01% of their portfolio. Retirement Sys Of Alabama owns 37,563 shares. 49,900 were reported by Swiss National Bank. 7,963 are owned by Envestnet Asset Mngmt Incorporated. Panagora Asset Mngmt owns 1,109 shares or 0% of their US portfolio. Oppenheimer Asset Management accumulated 37 shares. Rhumbline Advisers owns 66,302 shares. Tiaa Cref Investment Mgmt Ltd Liability Company holds 169,789 shares.

Since April 3, 2017, it had 0 insider buys, and 11 sales for $1.56 million activity. MURAI KEVIN M sold $217,360 worth of SYNNEX Corporation (NYSE:SNX) on Tuesday, May 9. LEUNG SIMON also sold $9,552 worth of SYNNEX Corporation (NYSE:SNX) on Monday, April 3. The insider POLK DENNIS sold 1,500 shares worth $162,315.

SYNNEX Corporation (NYSE:SNX) Ratings Coverage

Among 9 analysts covering SYNNEX (NYSE:SNX), 5 have Buy rating, 2 Sell and 2 Hold. Therefore 56% are positive. SYNNEX has $140 highest and $86 lowest target. $121.83’s average target is -3.09% below currents $125.71 stock price. SYNNEX had 23 analyst reports since August 20, 2015 according to SRatingsIntel. The company was maintained on Tuesday, September 26 by Citigroup. Brean Capital maintained the stock with “Buy” rating in Friday, June 24 report. Citigroup maintained it with “Buy” rating and $101 target in Tuesday, March 29 report. Zacks upgraded the shares of SNX in report on Thursday, August 20 to “Sell” rating. Needham reinitiated SYNNEX Corporation (NYSE:SNX) on Tuesday, September 29 with “Hold” rating. Brean Capital maintained SYNNEX Corporation (NYSE:SNX) on Friday, September 25 with “Buy” rating. The firm has “Neutral” rating given on Monday, May 2 by Citigroup. Stifel Nicolaus maintained SYNNEX Corporation (NYSE:SNX) rating on Friday, June 9. Stifel Nicolaus has “Buy” rating and $128 target. The stock of SYNNEX Corporation (NYSE:SNX) has “Market Perform” rating given on Wednesday, June 8 by Raymond James. Zacks upgraded the shares of SNX in report on Thursday, August 27 to “Hold” rating.

The stock increased 7.91% or $9.21 during the last trading session, reaching $125.71. About shares traded. SYNNEX Corporation (NYSE:SNX) has risen 29.93% since September 27, 2016 and is uptrending. It has outperformed by 13.23% the S&P500.

Synnex Corporation is a business process services company. The company has market cap of $5.02 billion. The Firm provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. It has a 18.04 P/E ratio. The Firm operates in two divisions: Technology Solutions and Concentrix.

More notable recent SYNNEX Corporation (NYSE:SNX) news were published by: Prnewswire.com which released: “SYNNEX Completes Acquisition of Westcon-Comstor North America and Latin …” on September 01, 2017, also Seekingalpha.com with their article: “SYNNEX’s (SNX) CEO Kevin Murai on Q3 2017 Results – Earnings Call Transcript” published on September 26, 2017, Nasdaq.com published: “Earnings Reaction History: SYNNEX Corp., 50.0% Follow-Through Indicator, 6.0 …” on September 25, 2017. More interesting news about SYNNEX Corporation (NYSE:SNX) were released by: Marketwatch.com and their article: “Synnex shares rally as earnings, outlook top Street view” published on September 25, 2017 as well as Prnewswire.com‘s news article titled: “SYNNEX Corporation to Announce Results for Fiscal 2017 Third Quarter on …” with publication date: September 11, 2017.

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