Time to Buy Symantec Corporation After Today’s Option Traders Bet?

 Time to Buy Symantec Corporation After Today's Option Traders Bet?

In today’s session Symantec Corporation (SYMC) registered an unusually high (1,457) 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 1,457 contracts traded and 15264 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SYMC161118C00025000 closed last at: $0.8 or 5.9% down. About 1.25 million shares traded hands. Symantec Corporation (NASDAQ:SYMC) has risen 35.29% since March 29, 2016 and is uptrending. It has outperformed by 31.82% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on November, 3. They expect $0.15 earnings per share, down 58.33% or $0.21 from last year’s $0.36 per share. SYMC’s profit will be $93.20M for 41.90 P/E if the $0.15 EPS becomes a reality. After $0.23 actual earnings per share 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. $30 is the highest target while $14 is the lowest. The $23.57 average target is -6.25% below today’s ($25.14) stock price. Symantec has been the topic of 39 analyst reports since August 11, 2015 according to StockzIntelligence Inc. As per Monday, March 21, the company rating was reinitiated by Goldman Sachs. As per Wednesday, August 12, the company rating was maintained by S&P Research. Barclays Capital maintained Symantec Corporation (NASDAQ:SYMC) on Monday, September 19 with “Equal-Weight” rating. As per Friday, August 5, the company rating was maintained by RBC Capital Markets. The rating was maintained by FBR Capital with “Hold” on Tuesday, August 11. TheStreet downgraded the stock to “Buy” rating in Saturday, August 15 report. Evercore initiated Symantec Corporation (NASDAQ:SYMC) on Thursday, April 14 with “Sell” rating. Morgan Stanley reinitiated Symantec Corporation (NASDAQ:SYMC) rating on Monday, August 15. Morgan Stanley has “Overweight” rating and $27 price target. The company was maintained on Monday, August 22 by Citigroup. The stock has “Hold” rating given by Wunderlich on Friday, August 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 is 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.
Da Davidson And Co has 720 shares for 0% of their US portfolio. Amica Mutual Insur holds 0.08% or 39,537 shares in its portfolio. New Mexico Educational Retirement Board holds 0.07% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 74,797 shares. Valley National Advisers Incorporated reported 325 shares or 0% of all its holdings. Cambiar Invsts Ltd Com accumulated 3.28M shares or 0.95% of the stock. Qs Investors Lc last reported 0.19% of its portfolio in the stock. Moreover, Whittier Tru Communications has 0% invested in Symantec Corporation (NASDAQ:SYMC) for 4,636 shares. Susquehanna Gru Limited Liability Partnership has 0.01% invested in the company for 1.09M shares. Blair William Il last reported 14,180 shares in the company. Voya Inv Limited Liability holds 365,732 shares or 0.02% of its portfolio. Hsbc Plc reported 1.38 million shares or 0.08% of all its holdings. Dai Ichi Life Insurance holds 0.01% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 13,140 shares. American Int Group Incorporated last reported 0% of its portfolio in the stock. Carroll Financial Associates has 950 shares for 0% of their US portfolio. Stifel Fin Corporation has invested 0.02% of its portfolio in Symantec Corporation (NASDAQ:SYMC).

Insider Transactions: Since June 14, 2016, the stock had 0 buys, and 7 sales for $2.16 million net activity. 15,474 shares were sold by Cappellanti-Wolf Amy L., worth $385,026. Another trade for 11,852 shares valued at $222,344 was sold by Garfield Mark S.. $1.00M worth of Symantec Corporation (NASDAQ:SYMC) was sold by TAYLOR SCOTT C. Another trade for 13,214 shares valued at $322,423 was sold by Fey Michael David. Another trade for 3,336 shares valued at $83,000 was sold by Rosch Francis C. $76,463 worth of Symantec Corporation (NASDAQ:SYMC) was sold by Vautrinot Suzanne M on Tuesday, July 5.

Symantec Corporation provides security and information management solutions. The company has a market cap of $15.62 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 recent Symantec Corporation (NASDAQ:SYMC) news were published by: Profitconfidential.com which released: “Symantec Corporation: The SYMC Stock Chart Can’t Be Ignored” on October 18, 2016. Also Profitconfidential.com published the news titled: “Symantec Corporation: Why SYMC Stock Can Gain 20%” on October 05, 2016. Seekingalpha.com‘s news article titled: “Beware Symantec” with publication date: October 10, 2016 was also an interesting one.

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