Gen Digital (NASDAQ:GEN - Get Free Report) had its target price lowered by research analysts at Morgan Stanley from $27.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective points to a potential upside of 6.11% from the company's current price.
Gen Digital Trading Down 3.6 %
Shares of GEN traded down $0.89 during midday trading on Wednesday, hitting $23.56. The stock had a trading volume of 3,006,602 shares, compared to its average volume of 3,960,579. The firm has a market cap of $14.52 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Gen Digital has a fifty-two week low of $19.58 and a fifty-two week high of $31.72. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. The business has a 50-day simple moving average of $26.56 and a two-hundred day simple moving average of $27.75.
Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. As a group, equities analysts forecast that Gen Digital will post 2.05 EPS for the current year.
Hedge Funds Weigh In On Gen Digital
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in shares of Gen Digital by 6.6% during the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock worth $29,627,000 after purchasing an additional 69,558 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital in the 4th quarter valued at approximately $14,367,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Gen Digital by 14.1% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 512,530 shares of the company's stock valued at $13,603,000 after buying an additional 63,165 shares in the last quarter. GAMMA Investing LLC boosted its stake in Gen Digital by 2,954.9% in the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company's stock worth $8,550,000 after purchasing an additional 311,623 shares during the period. Finally, QSM Asset Management Ltd bought a new position in shares of Gen Digital during the 4th quarter worth approximately $5,373,000. Institutional investors own 81.38% of the company's stock.
About Gen Digital
(
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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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