What’s Next for Symantec Corporation After Today’s Bullish Options Activity?

 What's Next for Symantec Corporation After Today's Bullish Options Activity?

In today’s session Symantec Corporation (SYMC) registered an unusually high (1,006) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious SYMC increase. With 1,006 contracts traded and 62484 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: SYMC170120C00026000 closed last at: $0.47 or 19% down. About 1.07M shares traded hands. Symantec Corporation (NASDAQ:SYMC) has risen 37.98% since April 22, 2016 and is uptrending. It has outperformed by 32.57% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on February, 2. They expect $0.21 earnings per share, down 4.55% or $0.01 from last year’s $0.22 per share. SYMC’s profit will be $129.55 million for 29.68 P/E if the $0.21 EPS becomes a reality. After $0.15 actual earnings per share reported by Symantec Corporation for the previous quarter, Wall Street now forecasts 40.00% 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 40 analyst reports since August 11, 2015 according to StockzIntelligence Inc. M Partners maintained Symantec Corporation (NASDAQ:SYMC) rating on Friday, February 5. M Partners has “Neutral” rating and $22 price target. The stock has “Buy” rating given by Guggenheim on Thursday, September 15. Barclays Capital initiated it with “Equal-Weight” rating and $24 target price in Friday, August 5 report. The stock has “Equal-Weight” rating given by Barclays Capital on Wednesday, March 2. The stock of Symantec Corporation (NASDAQ:SYMC) has “Hold” rating given on Friday, August 5 by Wunderlich. Citigroup upgraded the stock to “Buy” rating in Friday, August 19 report. RBC Capital Markets upgraded the stock to “Outperform” rating in Friday, March 11 report. The firm has “Buy” rating given on Wednesday, August 12 by S&P Research. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Market Perform” rating by Raymond James on Friday, April 29. The rating was maintained by RBC Capital Markets on Friday, August 5 with “Outperform”.

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 increased to 0.97 in 2016 Q2. Its up 0.17, from 0.8 in 2016Q1. The ratio is positive, 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.
Brave Asset, a New Jersey-based fund reported 1,000 shares. The Ontario – Canada-based Ci Invests has invested 0.26% in Symantec Corporation (NASDAQ:SYMC). Airain Ltd holds 398,176 shares or 0.47% of its portfolio. Lba Wealth Management Ltd Co accumulated 0.01% or 500 shares. State Bank Of The West has 54,341 shares for 0.16% of their US portfolio. Mariner Wealth Advsr Ltd Com has 17,165 shares for 0.02% of their US portfolio. Amalgamated Retail Bank last reported 0.04% of its portfolio in the stock. Ny State Teachers Retirement accumulated 1.22 million shares or 0.07% of the stock. Sei Investments has 596,501 shares for 0.07% of their US portfolio. Geode Cap Lc last reported 0.06% of its portfolio in the stock. Advantus Capital Mgmt, a Minnesota-based fund reported 59,423 shares. Legal & General Group Public Ltd Com has invested 0.07% of its portfolio in Symantec Corporation (NASDAQ:SYMC). D Scott Neal reported 112 shares or 0% of all its holdings. Hartwell J M Lp reported 98,000 shares or 0.51% of all its holdings. Ajo Lp accumulated 1.25% or 13.66M shares.

Insider Transactions: Since June 14, 2016, the stock had 0 insider purchases, and 8 selling transactions for $2.49 million net activity. The insider Vautrinot Suzanne M sold $76,463. TAYLOR SCOTT C also sold $1.00 million worth of Symantec Corporation (NASDAQ:SYMC) shares. $322,423 worth of Symantec Corporation (NASDAQ:SYMC) was sold by Fey Michael David. $222,344 worth of Symantec Corporation (NASDAQ:SYMC) was sold by Garfield Mark S. on Tuesday, June 14. Cappellanti-Wolf Amy L. sold 15,474 shares worth $385,026. On Wednesday, September 7 Rosch Francis C sold $83,000 worth of the stock or 3,336 shares.

Symantec Corporation is a United States cybersecurity company. The company has a market cap of $15.38 billion. The Firm operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. It currently has negative earnings. The Company’s divisions include Consumer Security and Enterprise Security.

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: Ibtimes.com, which released: “Symantec Corp. (SYMC) Buying LifeLock Inc. (LOCK) For $2.3 Billion” on November 21, 2016. Seekingalpha.com‘s article titled: “Symantec Acquires LifeLock To Offer Comprehensive Security” and published on November 23, 2016 is yet another important article.

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