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

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.

Jane Street Ltd owns 18,517 shares for 0% of their portfolio. Bokf Na reported 32,405 shares. Conning Inc invested in 10,706 shares. Tocqueville Asset L P accumulated 57,991 shares. Ifrah Serv has 0.2% invested in Symantec Corporation (NASDAQ:SYMC). State Bank Of Nova Scotia has 1.31 million shares for 0.12% of their portfolio. Trust Of Vermont holds 0% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 1,076 shares. Proshare Advsrs Limited holds 0.08% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 613,071 shares. 37,370 are owned by Commonwealth Of Pennsylvania School Empls Retrmt. Sun Life Financial accumulated 1,091 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0.04% in Symantec Corporation (NASDAQ:SYMC). Cibc Asset accumulated 0.01% or 94,969 shares. Pillar Pacific Cap Ltd has invested 0.14% in Symantec Corporation (NASDAQ:SYMC). Robeco Institutional Asset Management Bv holds 0.04% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 484,627 shares. Renaissance Technologies Ltd Liability accumulated 2.51 million shares or 0.05% of the stock.

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. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Neutral” rating by Mizuho on Friday, May 10. The firm earned “Buy” rating on Monday, April 8 by Goldman Sachs. Mizuho initiated it with “Hold” rating and $25 target in Tuesday, March 26 report. The company was downgraded on Tuesday, June 11 by Morgan Stanley. The rating was upgraded by Mizuho on Monday, June 17 to “Buy”.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Businesswire.com which released: “Symantec to Announce Fiscal First Quarter 2020 Results on August 8, 2019 – Business Wire” on July 17, 2019, also Nasdaq.com with their article: “Symantec Breaks Below 200-Day Moving Average – Notable for SYMC – Nasdaq” published on July 31, 2019, Nasdaq.com published: “Technology Sector Update for 07/15/2019: SYMC,AVGO,ZM,MFGP – Nasdaq” on July 15, 2019. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Seekingalpha.com and their article: “Symantec: Moving On – Seeking Alpha” published on July 25, 2019 as well as Seekingalpha.com‘s news article titled: “Symantec Corporation 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” with publication date: August 09, 2019.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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