Symantec shares lose one third of value overnight

Symantec shares lose one third of value overnight

Symantec shares lose one third of value overnight

Symantec said today it was investigating concerns raised by a former employee as the cyber security company forecast full-year results below analysts' estimates. Also, the number of hedge funds holding Symantec Corp in their top 10 holdings decreased from 12 to 8 for a decrease of 4. Moreover, Scge Management L.P. has 6.97% invested in the company for 1.58 million shares. Orbis Investment Management (U.S.) Llc owns 433,598 shares or 8.26% of their USA portfolio. Gulf National Bank (Uk) holds 0.07% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 192,890 shares. The revelation wiped more than $5 billion from the company's market value.

More recent Kamada Ltd. (NASDAQ:KMDA) news were published by: Nasdaq.com which released: "Kamada to Announce First Quarter 2018 Financial Results and Host Conference Call on May 15" on May 09, 2018. Over the past 7 days, Symantec Corporation (NASDAQ:SYMC) stock has increased in price by 5.23%.

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

The shares tanked 35 percent Friday, the most in nearly 17 years, taking about $6 billion in market value with it. While in the same Quarter Previous year, the Actual EPS was $0.28.

Symantec Corporation on 12/30/2017 reported its EPS as $0.28 with the analysts projecting the EPS of the stock as $0.28.


The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 20th.

Several research analysts have recently issued reports on the stock. Symantec had 92 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Symantec Corporation (NASDAQ:SYMC) has "Hold" rating given on Monday, January 22 by Credit Suisse. At least 10 analysts lowered their price targets or ratings on the stock. Stephens has "Hold" rating and $29.0 target.

In other Symantec news, Director Suzanne M. Vautrinot sold 4,000 shares of the firm's stock in a transaction on Friday, March 9th. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. About 104.59M shares traded or 1907.47% up from the average. The disclosure for this sale can be found here.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two divisions, 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.

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