Goldman Sachs Issues a Downgrade on Symantec (SYMC) Shares. What’s Next?

May 16, 2018 - By Migdalia James

Symantec Corporation (NASDAQ:SYMC) Logo

Investors sentiment increased to 0.92 in 2017 Q4. Its up 0.06, from 0.86 in 2017Q3. It improved, as 56 investors sold Symantec Corporation shares while 144 reduced holdings. 45 funds opened positions while 139 raised stakes. 548.16 million shares or 4.09% less from 571.53 million shares in 2017Q3 were reported.

Tarbox Family Office stated it has 368 shares. Jnba Advsr reported 0.01% in Symantec Corporation (NASDAQ:SYMC). Moreover, Kentucky Retirement Systems Insur Tru Fund has 0.08% invested in Symantec Corporation (NASDAQ:SYMC) for 16,465 shares. Dupont Cap invested in 0% or 2,416 shares. Los Angeles Mgmt And Equity accumulated 140,737 shares. British Columbia Inv Mngmt holds 0.06% or 313,905 shares. Mark Sheptoff Fincl Planning Lc owns 0.04% invested in Symantec Corporation (NASDAQ:SYMC) for 2,000 shares. Mirae Asset Glob Invests Limited holds 0.05% or 121,808 shares. Parkside Fincl Bank Trust stated it has 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Utd Automobile Association reported 331,766 shares stake. C M Bidwell Assoc has invested 0% in Symantec Corporation (NASDAQ:SYMC). Moors & Cabot reported 40,274 shares. Price T Rowe Associates Md has 0.36% invested in Symantec Corporation (NASDAQ:SYMC) for 78.79M shares. Royal Bancorporation Of Canada has invested 0.01% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Aviva Public Ltd reported 345,273 shares stake.

Since March 5, 2018, it had 0 insider buys, and 3 sales for $2.63 million activity. $1.38M worth of stock was sold by Rosch Francis C on Monday, March 5. 4,000 Symantec Corporation (NASDAQ:SYMC) shares with value of $110,880 were sold by Vautrinot Suzanne M.

Symantec (SYMC) Receives a Downgrade

In a research note released on 16 May, Goldman Sachs has decided to lowered rating on Symantec (SYMC) shares to a Neutral. SYMC’s prior rating was a Buy.

The stock increased 0.09% or $0.02 during the last trading session, reaching $22.35. About 14.66 million shares traded or 78.04% up from the average. Symantec Corporation (SYMC) has declined 16.28% since May 17, 2017 and is downtrending. It has underperformed by 27.83% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on August, 1. They expect $0.34 earnings per share, up 126.67 % or $0.19 from last year’s $0.15 per share. SYMC’s profit will be $211.32M for 16.43 P/E if the $0.34 EPS becomes a reality. After $0.26 actual earnings per share reported by Symantec Corporation for the previous quarter, Wall Street now forecasts 30.77 % EPS growth.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. The company has market cap of $13.89 billion. It operates through two divisions, Consumer Digital Safety and Enterprise Security. It has a 12.87 P/E ratio. 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.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Seekingalpha.com which released: “Symantec: Safety At Home, But In Your Portfolio?” on May 11, 2018, also Seekingalpha.com with their article: “Symantec: Parsing The Details” published on May 15, 2018, Seekingalpha.com published: “Symantec: A Risky Hold Through Earnings” on May 06, 2018. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Nasdaq.com and their article: “Why Symantec Corporation Stock Popped Today” published on May 14, 2018 as well as Fool.com‘s news article titled: “Why Caesars Entertainment, NXP Semiconductor, and Symantec Jumped Today” with publication date: May 14, 2018.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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