Synnex Corp. (NYSE:SNX) Director Fred A. Breidenbach sold 1,116 shares of Synnex Corp. stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $114.06, for a total transaction of $127,290.96. Following the completion of the transaction, the director now owns 20,387 shares of the company’s stock, valued at approximately $2,325,341.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Synnex Corp. (NYSE:SNX) opened at 112.68 on Friday. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $118.80. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 21.23 and a beta of 1.10. The firm’s 50-day moving average is $107.13 and its 200-day moving average is $95.87.
Synnex Corp. (NYSE:SNX) last announced its earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $1.47 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts predict 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. Shareholders of record on Friday, October 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio is presently 15.07%.
A number of research firms have recently issued reports on SNX. Stifel Nicolaus lifted their target price on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. lifted their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, September 27th. Zacks Investment Research cut shares of Synnex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research note on Saturday, June 25th. 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 currently has a consensus rating of “Hold” and a consensus price target of $106.71.
Several hedge funds and other institutional investors have recently made changes to their positions in SNX. Acrospire Investment Management LLC raised its position 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 last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $123,000 after buying an additional 600 shares in the last quarter. Societe Generale purchased a new stake in Synnex Corp. during the second quarter valued at about $156,000. LS Investment Advisors LLC raised its stake in Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock valued at $164,000 after buying an additional 708 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in Synnex Corp. during the second quarter valued at about $175,000. Hedge funds and other institutional investors own 75.41% of the company’s stock.
About Synnex Corp.