Symantec Corp Position Change by Jeffrey Smith’s Starboard Value Lp

Symantec Corporation (NASDAQ:SYMC) Logo

Investors sentiment increased to 1.23 in 2019 Q1. 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.

Goodwin Daniel L holds 10,000 shares or 0.11% of its portfolio. Landscape Cap Management Ltd Llc reported 47,339 shares or 0.1% of all its holdings. Commercial Bank Of Mellon Corp reported 0.03% in Symantec Corporation (NASDAQ:SYMC). Tocqueville Asset Ltd Partnership stated it has 57,991 shares. Brown Advisory reported 388,666 shares. Guardian Life Ins Communications Of America invested in 1,843 shares or 0.01% of the stock. Pennsylvania-based Smithfield Trust Com has invested 0% in Symantec Corporation (NASDAQ:SYMC). Enterprise Fincl Services reported 525 shares. Mufg Americas holds 0.01% in Symantec Corporation (NASDAQ:SYMC) or 20,987 shares. Inc Ca holds 0.02% or 8,999 shares in its portfolio. Whittier Tru reported 7,510 shares stake. Kentucky Retirement holds 0.06% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 27,947 shares. Great Lakes Advsrs Ltd Company owns 238,476 shares or 0.12% of their US portfolio. Susquehanna Gp Inc Ltd Liability Partnership reported 0.01% stake. Lsv Asset Mngmt holds 0.01% or 173,514 shares in its portfolio.

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 firm earned “Hold” rating on Tuesday, March 26 by Mizuho. Goldman Sachs upgraded Symantec Corporation (NASDAQ:SYMC) rating on Monday, April 8. Goldman Sachs has “Buy” rating and $28 target. Morgan Stanley downgraded the shares of SYMC in report on Tuesday, June 11 to “Underweight” rating. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Neutral” rating by Mizuho on Friday, May 10. The firm has “Buy” rating by Mizuho given on Monday, June 17.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Businesswire.com which released: “Symantec Named a Leader Among Data Security Portfolios by Independent Research Firm – Business Wire” on July 24, 2019, also Seekingalpha.com with their article: “Symantec: The Aftermath – Seeking Alpha” published on August 13, 2019, Seekingalpha.com published: “Symantec: Moving On – Seeking Alpha” on July 25, 2019. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Seekingalpha.com and their article: “Zscaler Is A Stock To Watch – Seeking Alpha” published on July 29, 2019 as well as Nasdaq.com‘s news article titled: “Technology Sector Update for 08/08/2019: SYMC,AVGO,AMD,TWTR,GOOG,GOOGL,AZPN,RUN – Nasdaq” with publication date: August 08, 2019.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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