Economy

Symantec stock plunges on internal investigation

Symantec stock plunges on internal investigation

548.16 million shares or 4.09% less from 571.53 million shares in 2017Q3 were reported.

360,000 are owned by Petrus Tru Com Lta. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 44.21, a P/E/G ratio of 2.36 and a beta of 0.86.

JMP Securities rated the Symantec Corporation (NASDAQ:SYMC)'s stock as a Mkt Perform in a research note published on Friday, April 27th, 2018. Amundi Pioneer Asset Incorporated has 0.02% invested in Symantec Corporation (NASDAQ:SYMC) for 512,839 shares. Shelton Mngmt reported 0.09% in Symantec Corporation (NASDAQ:SYMC). Washington Tru Bancshares has 2,300 shs for 0.01% of their capital. State Of Tennessee Treasury Department reported 0.03% in Symantec Corporation (NASDAQ:SYMC). Brighton Jones Limited owns 15,229 shs. Sentry Investment Management LLC's holdings in Symantec were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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Symantec Corporation had 3 sales and 0 insider buys since March 5, 2018. Its projected profit of $1.50 to $1.65 per share missed estimates as well. On Friday, March 9 Vautrinot Suzanne M had sold 4,000 shs worth $110,880.

At the moment, there are a total of 28 analysts who cover Symantec Corporation (NASDAQ:SYMC) stock. "Buy" rating has 3, "Sell" are 3, while 6 are "Hold". It improved, as 56 investors sold Symantec Corporation shares while 144 reduced holdings. The stock increased 1.42% or $0.02 during the last trading session, reaching $1.59. Stifel Nicolaus maintained the stock with "Hold" rating in Wednesday, January 31 report. The company was downgraded on Monday, January 22 by Credit Suisse. On Friday, April 6 the firm has "Buy" rating given by Standpoint Research. The firm has "Overweight" rating given on Thursday, May 11 by First Analysis.

Analysts were expecting the company to report a profit of 39 cents per share on revenue of $1.19 billion.

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Among 34 analysts covering Symantec (NASDAQ:SYMC), 7 have Buy rating, 3 Sell and 24 Hold. Ngam Advisors L P has invested 0% in Symantec Corporation (NASDAQ:SYMC). The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.19 billion. It has underperformed by 27.83% the S&P500. 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.

A source familiar with the matter told Reuters it was separate to another investigation launched in November by Lifshitz & Miller LLP into the board for possible violations of federal securities laws in relation to its executive compensation awards.

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