Synnex Corp. (NYSE:SNX) Director Matthew Miau sold 18,963 shares of the firm’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $105.35, for a total transaction of $1,997,752.05. Following the completion of the transaction, the director now directly owns 374,420 shares in the company, valued at $39,445,147. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Matthew Miau also recently made the following trade(s):
- On Friday, October 14th, Matthew Miau sold 9,347 shares of Synnex Corp. stock. The shares were sold at an average price of $106.51, for a total transaction of $995,548.97.
Shares of Synnex Corp. (NYSE:SNX) remained flat at $104.71 during trading on Wednesday. The stock had a trading volume of 136,272 shares. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 19.73 and a beta of 1.10. The firm has a 50 day moving average of $107.29 and a 200-day moving average of $96.59.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The firm had revenue of $3.67 billion for the quarter. During the same quarter last year, the firm posted $1.47 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s payout ratio is 18.83%.
Several brokerages have recently commented on SNX. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Friday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Citigroup Inc. raised their price objective on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, September 27th. Brean Capital restated a “buy” rating and set a $108.00 price objective (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Credit Agricole SA raised their price objective on shares of Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $106.71.
Several hedge funds have recently made changes to their positions in SNX. Acrospire Investment Management LLC boosted its stake in shares of Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the last quarter. Societe Generale purchased a new position in shares of Synnex Corp. during the second quarter worth about $156,000. LS Investment Advisors LLC boosted its position in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Synnex Corp. during the second quarter worth about $175,000. Hedge funds and other institutional investors own 75.36% of the company’s stock.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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