Gen Digital Inc. (NASDAQ:GEN – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.65 and last traded at $31.2170, with a volume of 405548 shares trading hands. The stock had previously closed at $30.65.
Wall Street Analysts Forecast Growth
GEN has been the subject of several analyst reports. Barclays lifted their price target on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Royal Bank Of Canada lifted their target price on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Wells Fargo & Company raised their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Gen Digital currently has a consensus rating of “Hold” and an average target price of $31.60.
Check Out Our Latest Research Report on GEN
Gen Digital Trading Up 1.4%
Gen Digital (NASDAQ:GEN – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.
Gen Digital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s payout ratio is currently 29.07%.
Insider Buying and Selling at Gen Digital
In related news, insider Travis Michael Witteveen sold 30,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ondrej Vlcek sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total value of $6,000,000.00. Following the sale, the director owned 3,332,904 shares in the company, valued at approximately $99,987,120. This represents a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 630,260 shares of company stock worth $17,967,726 over the last quarter. Company insiders own 9.70% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Gen Digital in the fourth quarter valued at approximately $27,000. Grove Bank & Trust lifted its holdings in Gen Digital by 452.2% during the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after purchasing an additional 927 shares during the last quarter. Weiss Asset Management LP bought a new stake in Gen Digital in the 1st quarter valued at $41,000. TD Private Client Wealth LLC boosted its stake in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after buying an additional 1,183 shares in the last quarter. 81.38% of the stock is owned by institutional investors.
Gen Digital Company Profile
Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.
Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.
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