Plato Investment Management Ltd Grows Position in Gen Digital Inc. $GEN

Key Points

• Plato Investment Management Ltd significantly increased its stake in Gen Digital Inc. by 99.8%, purchasing an additional 17,414 shares to hold a total of 34,864 shares worth approximately $935,000.
• Several analysts have raised their price targets for Gen Digital's shares, with Morgan Stanley increasing its target from $25.00 to $32.00, reflecting growing confidence in the company's performance.
• Gen Digital reported a 30.3% year-over-year increase in quarterly revenue, amounting to $1.26 billion, alongside a better-than-expected EPS of $0.64, surpassing analysts' estimates of $0.60.

Plato Investment Management Ltd boosted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 99.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,864 shares of the company's stock after purchasing an additional 17,414 shares during the period. Plato Investment Management Ltd's holdings in Gen Digital were worth $935,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Gen Digital by 132.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after buying an additional 341,533 shares during the period. Mather Group LLC. grew its position in 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 buying an additional 783 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in Gen Digital during the first quarter valued at $377,000. Wellington Management Group LLP grew its position in Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after buying an additional 56,993 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Gen Digital by 52.4% during the first quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares during the period. Hedge funds and other institutional investors own 81.38% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on GEN shares. Morgan Stanley raised their price target on shares of Gen Digital from $25.00 to $32.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 2nd. Barclays increased their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Evercore ISI started coverage on shares of Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Gen Digital currently has a consensus rating of "Moderate Buy" and an average target price of $36.50.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $29.67 on Friday. The firm has a 50-day simple moving average of $30.21 and a 200-day simple moving average of $28.34. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22.

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

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Gen Digital's dividend payout ratio is 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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