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

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.

Blair William & Com Il owns 14,650 shares. Cornercap Invest Counsel Inc holds 0.56% of its portfolio in Symantec Corporation (NASDAQ:SYMC) for 177,465 shares. Moreover, Pension Service has 0.07% invested in Symantec Corporation (NASDAQ:SYMC) for 829,445 shares. Natixis Advisors L P stated it has 0% in Symantec Corporation (NASDAQ:SYMC). Citadel Advisors Lc stated it has 0.05% in Symantec Corporation (NASDAQ:SYMC). Legal General Grp Inc Public Limited Liability Corporation holds 0.07% or 5.02 million shares. Ubs Asset Americas stated it has 2.33M shares or 0% of all its holdings. Element Management Ltd Liability owns 227,321 shares for 0.16% of their portfolio. Nwq Mngmt Co Llc invested 0.64% in Symantec Corporation (NASDAQ:SYMC). The Us-based Ancora Advisors Ltd Com has invested 0.01% in Symantec Corporation (NASDAQ:SYMC). Envestnet Asset Management invested in 25,138 shares. Mirae Asset Invs stated it has 233,252 shares or 0.04% of all its holdings. Quantitative Inv Mgmt Ltd Limited Liability Company holds 0.02% or 15,000 shares. Thrivent Financial For Lutherans holds 28,545 shares or 0% of its portfolio. National Bank Of America De reported 1.12M shares stake.

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. The firm has “Neutral” rating by Mizuho given on Friday, May 10. The firm earned “Buy” rating on Monday, June 17 by Mizuho. Mizuho initiated the shares of SYMC in report on Tuesday, March 26 with “Hold” rating. On Tuesday, June 11 the stock rating was downgraded by Morgan Stanley to “Underweight”. Goldman Sachs upgraded the shares of SYMC in report on Monday, April 8 to “Buy” rating.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Nasdaq.com which released: “Notable Wednesday Option Activity: K, SYMC, SBUX – Nasdaq” on July 03, 2019, also Seekingalpha.com with their article: “Symantec Corporation 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” published on August 09, 2019, Nasdaq.com published: “Symantec, Broadcom cease deal negotiations – Nasdaq” on July 15, 2019. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Nasdaq.com and their article: “Stocks Rise as Bond Yields Stabilize – Nasdaq” published on August 08, 2019 as well as Nasdaq.com‘s news article titled: “Notable Thursday Option Activity: SYMC, ATVI, ADBE – Nasdaq” with publication date: August 08, 2019.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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