Jeffrey Smith’s Starboard Value Lp Bought More Symantec Corp Shares

Symantec Corporation (NASDAQ:SYMC) Logo

Investors sentiment increased to 1.23 in Q1 2019. Its up 0.04, from 1.19 in 2018Q4. It improved, as 29 investors sold Symantec Corporation shares while 120 reduced holdings. 42 funds opened positions while 141 raised stakes. 551.58 million shares or 0.15% less from 552.40 million shares in 2018Q4 were reported.

Long Road Inv Counsel Limited Liability has 76,425 shares for 1.08% of their portfolio. 1,076 were reported by Tru Of Vermont. Matrix Asset Advsrs Inc holds 0.89% or 226,499 shares. Bnp Paribas Arbitrage Sa holds 0% in Symantec Corporation (NASDAQ:SYMC) or 1.60 million shares. Cubist Systematic Strategies Limited Company has invested 0.02% in Symantec Corporation (NASDAQ:SYMC). Jefferies Limited Liability Com accumulated 58,316 shares. Td Capital Ltd Com has invested 0% in Symantec Corporation (NASDAQ:SYMC). M&T Bank & Trust holds 0.01% or 58,995 shares. Bnp Paribas Asset reported 48,575 shares or 0.01% of all its holdings. State Board Of Administration Of Florida Retirement Sys holds 0.05% or 877,729 shares in its portfolio. Employees Retirement Of Texas stated it has 30,000 shares. Pictet Asset Ltd has 0.3% invested in Symantec Corporation (NASDAQ:SYMC). Envestnet Asset Mngmt Incorporated holds 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 25,138 shares. Edge Wealth Mngmt Ltd reported 0.01% stake. Louisiana-based Louisiana State Employees Retirement System has invested 0.04% in Symantec Corporation (NASDAQ:SYMC).

Jeffrey Smith’s Starboard Value Lp Reported increased Stake in Symantec Corp

Starboard Value Lp filed with SEC a SC 13D/A form for Symantec Corp. It can be found at: 000092189519002251. As reported by Jeffrey Smith’s Starboard Value Lp, the filler increased its stake in the stock by 17.46 % for 43,625,481 shares. Jeffrey Smith’s Starboard Value Lp currently owns 7.1% of the Information Technology- stock. Date of activity: August 13, 2019.

The hedge fund with about $2.57 billion looks more positive after reporting such an increase of its Symantec Corp ownership.

The hedge fund is investor in the Finance sector.

Symantec Corp Institutional Sentiment

Filings show 410 investors own Symantec Corp. The ownership in Q3 2017 is very high, at Infinity of the outstanding shares. This is increased by 36918615. 571528760 were owned by these investors. 55 funds opened new Symantec Corp stakes, 133 increased positions. There were 48 that closed positions and 170 reduced them.

12 investors had the stock in their top 10. Some are: Starboard Value Lp, 13D Management Llc, Lonestar Capital Management Llc, Bogle Investment Management L P De, Crosslink Capital Inc, Contour Asset Management Llc, Kenmare Capital Partners L.L.C…

Ci Global Investments Inc is an investor bullish on Symantec Corp, owning 9942972 shares as of Q3 2017 for 6.54% of its portfolio. Christopher Lyle Scge Management Lp owns 1125000 shares or 7.68% of its portfolio. NY Adi Capital Management Llc have 9.83% of its portfolio for 606798 shares. Further, Bluemountain Capital Management Llc reported stake worth 1.07% of its portfolio. The NY Ratan Capital Management Lp owns 590143 shares. Symantec Corp is 11.67% of its portfolio.

SEC Form 13D.

Jeffrey Smith’s Starboard Value Lp website.

The stock increased 0.39% or $0.09 during the last trading session, reaching $23.14. About 6.70M shares traded. Symantec Corporation (NASDAQ:SYMC) has risen 6.15% since August 16, 2018 and is uptrending. It has outperformed by 6.15% the S&P500.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. The company has market cap of $16.01 billion. It operates through two divisions, Consumer Digital Safety and Enterprise Security. It has a 538.14 P/E ratio. 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.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Among 4 analysts covering Symantec Corp (NASDAQ:SYMC), 2 have Buy rating, 1 Sell and 1 Hold. Therefore 50% are positive. Symantec Corp has $28 highest and $1400 lowest target. $21.75’s average target is -6.01% below currents $23.14 stock price. Symantec Corp had 10 analyst reports since March 26, 2019 according to SRatingsIntel. On Monday, June 17 the stock rating was upgraded by Mizuho to “Buy”. The rating was maintained by Mizuho on Friday, May 10 with “Neutral”. The rating was downgraded by Morgan Stanley on Tuesday, June 11 to “Underweight”. The firm has “Buy” rating by Goldman Sachs given on Monday, April 8. The firm has “Hold” rating by Mizuho given on Tuesday, March 26.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Nasdaq.com which released: “Symantec Corporation (SYMC) Ex-Dividend Date Scheduled for June 07, 2019 – Nasdaq” on June 06, 2019, also Nasdaq.com with their article: “Symantec (SYMC) Q4 Earnings Match, Revenues Miss Estimates – Nasdaq” published on May 10, 2019, Benzinga.com published: “Chevron, IBM And More ‘Fast Money Halftime Report’ Picks From August 1 – Benzinga” on August 01, 2019. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Streetinsider.com and their article: “StreetInsider Deal Watch 07/26 – StreetInsider.com” published on July 26, 2019 as well as Nasdaq.com‘s news article titled: “Symantec (SYMC) Launches Norton 360 Deluxe in Microsoft Store – Nasdaq” with publication date: June 18, 2019.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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