Gen Digital (NASDAQ:GEN) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Gen Digital (NASDAQ:GEN) from a buy rating to a hold rating in a report published on Sunday.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays raised their target price on shares of Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.67.

Gen Digital Price Performance

Shares of GEN stock opened at $28.48 on Friday. The business’s fifty day moving average is $26.17 and its 200 day moving average is $23.44. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 16.56 and a beta of 1.21. Gen Digital has a twelve month low of $17.78 and a twelve month high of $31.88.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter 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. Research analysts expect that Gen Digital will post 2.61 EPS for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital’s payout ratio is presently 29.07%.

Insider Activity at Gen Digital

In other Gen Digital news, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares in the company, valued at approximately $14,608,353.90. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The shares were purchased 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 in the company, valued at $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. 9.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gen Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GEN. Trust Co. of Vermont bought a new stake in shares of Gen Digital in the 2nd quarter worth $32,000. International Assets Investment Management LLC purchased a new position in shares of Gen Digital in the fourth quarter worth $27,000. Grove Bank & Trust lifted its holdings in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock valued at $28,000 after purchasing an additional 927 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Gen Digital by 65.8% during the fourth 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 in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Gen Digital during the second quarter valued at $47,000. 81.38% of the stock is owned by institutional investors.

About Gen Digital

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.