Symantec Corporation Has More Gas To Increase After Today’s Bullish Options Activity

 Symantec Corporation Has More Gas To Increase After Today's Bullish Options Activity

In today’s session Symantec Corporation (SYMC) registered an unusually high (1,114) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SYMC increase. With 1,114 contracts traded and 3584 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SYMC161118C00025000 closed last at: $0.73 or 22.3% down. About 2.43M shares traded hands. Symantec Corporation (NASDAQ:SYMC) has risen 29.94% since March 14, 2016 and is uptrending. It has outperformed by 24.32% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on November, 3. They expect $0.15 EPS, down 58.33% or $0.21 from last year’s $0.36 per share. SYMC’s profit will be $92.66M for 40.42 P/E if the $0.15 EPS becomes a reality. After $0.23 actual EPS reported by Symantec Corporation for the previous quarter, Wall Street now forecasts -34.78% negative EPS growth.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Out of 19 analysts covering Symantec (NASDAQ:SYMC), 9 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 47% are positive. Symantec has been the topic of 39 analyst reports since August 11, 2015 according to StockzIntelligence Inc. On Monday, September 19 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The firm earned “Neutral” rating on Thursday, September 10 by BTIG Research. The firm has “Hold” rating by FBR Capital given on Tuesday, August 11. Morgan Stanley upgraded Symantec Corporation (NASDAQ:SYMC) on Tuesday, December 15 to “Overweight” rating. The company was initiated on Friday, August 5 by Barclays Capital. Morgan Stanley reinitiated it with “Overweight” rating and $27 target price in Monday, August 15 report. The company was upgraded on Tuesday, September 13 by Wunderlich. The rating was maintained by Wunderlich on Tuesday, August 11 with “Hold”. Goldman Sachs reinitiated it with “Neutral” rating and $20 target price in Monday, March 21 report. The firm has “Mkt Perform” rating by FBR Capital given on Thursday, November 5.

According to Zacks Investment Research, “Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. The company is a leading provider of anti-virus protection, Internet content and e-mail filtering, and mobile code detection technologies to enterprise customers.”

Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.06, from 0.86 in 2016Q1. The ratio turned negative, as 62 funds sold all Symantec Corporation shares owned while 194 reduced positions. 62 funds bought stakes while 144 increased positions. They now own 560.92 million shares or 1.60% less from 570.06 million shares in 2016Q1.
Oakworth Cap reported 60 shares or 0% of all its holdings. Two Sigma Securities Ltd Liability Company has 0.82% invested in the company for 73,372 shares. Blackrock Advsrs Ltd Liability holds 753,452 shares or 0.02% of its portfolio. Moreover, Bonness Enterp has 0.99% invested in Symantec Corporation (NASDAQ:SYMC) for 57,500 shares. Meiji Yasuda Life holds 0.08% or 22,980 shares in its portfolio. Thrivent Financial For Lutherans holds 0.01% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 122,014 shares. Adi Cap Lc owns 250,000 shares or 3.95% of their US portfolio. Dynamic Cap Mgmt Ltd last reported 0.81% of its portfolio in the stock. Martin Co Tn holds 1.37% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 205,425 shares. Petrus Tru Lta holds 2.67% or 575,500 shares in its portfolio. Gateway Invest Advisers Limited Company accumulated 692,085 shares or 0.12% of the stock. Mizuho Asset Management Coltd, a Japan-based fund reported 18,045 shares. Guardian Life Ins Com Of America holds 0% or 2,287 shares in its portfolio. Ent Ser, a Missouri-based fund reported 525 shares. Stephens Ar last reported 16,788 shares in the company.

Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 5 insider sales for $838,083 net activity. $76,463 worth of Symantec Corporation (NASDAQ:SYMC) was sold by Vautrinot Suzanne M on Tuesday, July 5. On Wednesday, September 7 the insider Rosch Francis C sold $83,000. Shares for $222,344 were sold by Garfield Mark S. on Tuesday, June 14. Shares for $385,026 were sold by Cappellanti-Wolf Amy L..

Symantec Corporation provides security and information management solutions. The company has a market cap of $14.98 billion. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It currently has negative earnings. It is developing solutions for cloud, threat protection, information protection and cyber security services.

SYMC Company Profile

Symantec Corporation, incorporated on April 19, 1988, provides security and information management solutions. The Firm operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. The Firm is developing solutions for cloud, threat protection, information protection and cyber security services. The Firm operates through two divisions: Consumer Security and Enterprise Security. The Company’s services include business critical services, consulting services, customer success services, cyber security services and education services.

More news for Symantec Corporation (NASDAQ:SYMC) were recently published by: Profitconfidential.com, which released: “Symantec Corporation: Why SYMC Stock Can Gain 20%” on October 05, 2016. Seekingalpha.com‘s article titled: “Beware Symantec” and published on October 10, 2016 is yet another important article.

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