A Director at SYNNEX (NYSE: SNX) is Buying Shares

By Carrie Williams

Today, a Director at SYNNEX (SNXResearch Report), Matthew Miau, bought shares of SNX for $714.7K.

In addition to Matthew Miau, 3 other SNX executives reported Buy trades in the last month. Following Matthew Miau’s last SNX Buy transaction on April 02, 2020, the stock climbed by 0.5%.

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Based on SYNNEX’s latest earnings report for the quarter ending February 29, the company posted quarterly revenue of $5.26 billion and quarterly net profit of $123 million. In comparison, last year the company earned revenue of $5.25 billion and had a net profit of $87.11 million. The company has a one-year high of $153.07 and a one-year low of $52.07. SNX’s market cap is $3.76 billion and the company has a P/E ratio of 6.90.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $114.50, reflecting a -35.4% downside. Four different firms, including Barrington and Citigroup, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $26.19K worth of SNX shares and purchased $9M worth of SNX shares. The insider sentiment on SYNNEX has been neutral according to 136 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Matthew Miau’s trades have generated a -0.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products. The Concentrix segment offers a portfolio of strategic solutions and end-to-end business services to customers in industry vertical markets. The company was founded by Robert T. Huang in November 1980 and is headquartered in Fremont, CA.