Gen Digital Inc. (NASDAQ:GEN) Given Consensus Recommendation of "Hold" by Analysts

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) has been given an average rating of "Hold" by the nine analysts that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $29.3333.

Several analysts have commented on GEN shares. Barclays increased their price target on shares of Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $27.00 price objective on shares of Gen Digital in a research note on Thursday, July 16th. Jefferies Financial Group cut shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Wall Street Zen lowered shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Finally, Argus raised Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd.

Insiders Place Their Bets

In related news, Director Ondrej Vlcek sold 100,000 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the transaction, the director directly owned 3,832,724 shares of the company's stock, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Chrystal purchased 3,000 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director owned 31,419 shares of the company's stock, valued at $850,198.14. The trade was a 10.56% increase in their position. The disclosure for this purchase is available in the SEC filing. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gen Digital

Hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its position in Gen Digital by 45.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company's stock worth $246,567,000 after purchasing an additional 4,115,676 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company's stock worth $542,211,000 after buying an additional 3,640,451 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Gen Digital in the fourth quarter worth $70,248,000. Victory Capital Management Inc. lifted its stake in shares of Gen Digital by 167.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,328,737 shares of the company's stock worth $90,508,000 after buying an additional 2,082,850 shares during the period. Finally, Boston Partners grew its holdings in shares of Gen Digital by 14.3% during the fourth quarter. Boston Partners now owns 15,644,289 shares of the company's stock valued at $425,336,000 after buying an additional 1,954,712 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Trading Down 1.1%

GEN opened at $27.95 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 17.69 and a beta of 1.21. Gen Digital has a 12 month low of $17.78 and a 12 month high of $32.22. The stock has a fifty day moving average price of $25.82 and a 200-day moving average price of $23.28.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm's revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. As a group, equities research analysts anticipate that Gen Digital will post 2.61 earnings per share for the current fiscal year.

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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