Paralel Advisors LLC Takes $2.96 Million Position in Gen Digital Inc. $GEN

Key Points

• Paralel Advisors LLC has acquired a new position in Gen Digital Inc. worth approximately $2.96 million, purchasing 100,664 shares in the second quarter.
• Several analysts have recently upgraded their ratings for Gen Digital, with Morgan Stanley increasing their price target from $25 to $32 and Wells Fargo raising it from $37 to $40.
• Gen Digital reported a quarterly earnings per share (EPS) of $0.64, surpassing analyst estimates and showing a 30.3% increase in revenue year-over-year, totaling $1.26 billion.

Paralel Advisors LLC bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,664 shares of the company's stock, valued at approximately $2,960,000.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Gen Digital by 132.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after buying an additional 341,533 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Gen Digital by 26.6% during the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after acquiring an additional 783 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Gen Digital during the first quarter valued at approximately $377,000. Kendall Capital Management lifted its position in shares of Gen Digital by 20.0% in the first quarter. Kendall Capital Management now owns 60,640 shares of the company's stock valued at $1,609,000 after acquiring an additional 10,105 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Gen Digital by 33.0% in the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock worth $78,880,000 after acquiring an additional 736,809 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GEN shares. Jefferies Financial Group started coverage on Gen Digital in a research report on Friday, October 3rd. They set a "hold" rating and a $31.00 price target for the company. Morgan Stanley upped their target price on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. B. Riley started coverage on shares of Gen Digital in a research report on Monday, July 14th. They issued a "buy" rating and a $46.00 target price for the company. Wells Fargo & Company raised their price target on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Barclays boosted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.71.

Gen Digital Trading Down 0.5%

Shares of Gen Digital stock opened at $27.21 on Thursday. The stock has a 50 day moving average of $28.98 and a 200 day moving average of $28.49. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 0.92 and a beta of 0.94. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm's quarterly revenue was up 30.3% compared to the same quarter last year. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's payout ratio is currently 51.55%.

Gen Digital Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.

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