Jeffrey Smith’s Starboard Value Lp increased Its Symantec Corp Stake

Symantec Corporation (NASDAQ:SYMC) Logo

Investors sentiment increased to 1.23 in 2019 Q1. Its up 0.04, from 1.19 in 2018Q4. It increased, 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.

Ancora Advisors Ltd Liability Corporation has 0.01% invested in Symantec Corporation (NASDAQ:SYMC) for 13,950 shares. Intl Ca reported 0.11% of its portfolio in Symantec Corporation (NASDAQ:SYMC). Wells Fargo And Mn holds 0.02% or 3.23 million shares in its portfolio. Pub Sector Pension Inv Board has 0.01% invested in Symantec Corporation (NASDAQ:SYMC) for 53,363 shares. Lifeplan Grp owns 9 shares for 0% of their portfolio. Mitsubishi Ufj Secs Limited holds 0.08% or 610 shares. Ibm Retirement Fund invested 0.04% in Symantec Corporation (NASDAQ:SYMC). Sandy Spring Financial Bank holds 0.03% in Symantec Corporation (NASDAQ:SYMC) or 13,222 shares. Andra Ap owns 0.12% invested in Symantec Corporation (NASDAQ:SYMC) for 185,100 shares. Td Asset Mngmt Inc stated it has 1.16 million shares. Oakbrook Ltd reported 64,710 shares stake. Gulf International National Bank (Uk) accumulated 157,733 shares or 0.06% of the stock. Pictet North America Advsrs Sa invested in 0.19% or 55,000 shares. Natixis invested in 1.65M shares. Finance owns 525 shares.

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 6.70 million 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. Mizuho initiated the stock with “Hold” rating in Tuesday, March 26 report. The stock of Symantec Corporation (NASDAQ:SYMC) has “Buy” rating given on Monday, June 17 by Mizuho. The stock has “Underweight” rating by Morgan Stanley on Tuesday, June 11. The firm has “Neutral” rating by Mizuho given on Friday, May 10. As per Monday, April 8, the company rating was upgraded by Goldman Sachs.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Nasdaq.com which released: “Making Sense of Broadcom’s (AVGO) Rumored Deal For Symantec – Nasdaq” on July 08, 2019, also Streetinsider.com with their article: “After-Hours Movers 08/07: (CVNA) (STMP) (SYMC) Higher; (GDOT) (ANGI) (ICUI) (more…) – StreetInsider.com” published on August 07, 2019, Seekingalpha.com published: “Zscaler Is A Stock To Watch – Seeking Alpha” on July 29, 2019. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Nasdaq.com and their article: “Technology Sector Update for 08/08/2019: SYMC, AVGO, INFN, LITE, MSFT, AAPL, IBM, CSCO, GOOG – Nasdaq” published on August 08, 2019 as well as Streetinsider.com‘s news article titled: “Broadcom (AVGO) Nears Deal for Symantec’s (SYMC) Enterprise Business, Deal Could be Struck This Week – DJ – StreetInsider.com” with publication date: August 07, 2019.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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