|Day Low/High||23.38 / 24.03|
|52 Wk Low/High||17.43 / 26.07|
The cybersecurity name fired off some punches at the competition and picked up another bolt-on acquisition amid earnings.
As is the case with CA, Broadcom wants to significantly cut the spending of Symantec's enterprise security unit and streamline its offerings. But the unit faces a tougher competitive environment than CA's core mainframe software business.
Let's review the charts and indicators to see how they look after the company's 'on and off company acquisition news'.
It's possible that disgruntled Symantec shareholders could make the company return to the negotiating table with Broadcom. But if that doesn't happen, there are other targets that Broadcom might pursue.
Broadcom's success to date at making its $18.9 billion acquisition of CA Technologies work provides reason to think a Symantec acquisition could also pay off. But there are differences between Symantec and CA.
Disappointment in the cybersecurity name could set it up as another takeover candidate.
If it wasn't clear before, Broadcom has shifted its focus away from the hardware side of the business in terms of acquisitions.
Also, I'm not sure one needs to be in Broadcom, but if one were interested, this could be the discount that one has waited for.
This stock is a buy, if the fine points of the Broadcom offer support more upside.
Don't be in too much of a hurry to buy around the 4th of July holiday.
The security tech firm just reported a major billings decline, issued weak guidance and announced its CEO has resigned. Wall Street has its reasons for giving the company a relatively low valuation.
Proofpoint and Symantec's earnings reports just gave a fresh lift to a security tech space that continues seeing healthy growth. Here are a couple of relatively low-risk options for playing it.
Let's check out the charts and indicators to see if they too look attractive.
With little to go on from the company, it's likely Symantec's shares have even further to fall.
It's six months since my last review of SYMC and I can see how the bearish forecast is playing out.
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