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 Technology Stocks | Symantec (SYMC) - What does it look like?


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To: Dan'l Leviton who wrote (902)11/1/1997 11:19:00 AM
From: PeterR1700
   of 2062
 
Dan - "upgrades!" From your lips to god's ears. If you hear the conference call, would greatly appreciate an overview.

Peter

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To: Dan'l Leviton who wrote (902)11/1/1997 3:20:00 PM
From: zx
   of 2062
 
Thanks for this positive post.
i cannot believe
how little SYMC has run up after a great
earnings report. ag

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To: PeterR1700 who wrote (903)11/2/1997 6:49:00 PM
From: Dan'l Leviton
   of 2062
 
Peter, There was little in the call beyond the earnings report and recent press releases. I already mentioned the analysts meeting coming 11/4. It seemed to me that Symantec's CEO implied he would be discussing plans for growing the business in the coming year in more detail at that meeting.

A minor highlight was when an analyst asked about stock repurchases.
If you take a share price of $22, subtract $4.50/share in cash and investments, you get $17.50/share for just the business (ignoring a negligible amount of debt), which is projected to earn $1.40 in 1998, for a P/E of 12.5 (the analyst in the call said "11," but I don't know the numbers he was working with), with a sustainable growth rate of 20%. Why not use some of that $260 million to buy back stock?

Gordon Eubanks seemed uncomfortable with the question. SYMC is clearly a great investment now, but he can't seem to foreclose on any future possibilities of acquisitions for stock. Too bad, IMHO. Eubanks didn't rule it out, he just didn't seem interested in it because his energy is on growing the business through new and better products and channels, including electronic software distribution.

R&D is at about 17.5% of revenues, and will fluctuate as they manage the numbers to keep up the sustainable 20% growth rate. Several exciting new products (or revs) will ship this quarter.

Dan'l

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To: Dan'l Leviton who wrote (905)11/2/1997 8:44:00 PM
From: PeterR1700
   of 2062
 
DANIEL - <<There was little in the call beyond the earnings report and recent press releases.>> Thanks for getting back to me. T'would appear that SYMC is an opportunity yet I still wonder if they can compete in a land of leviathans. Are you aware of any proprietary technology that sets them apart?

Peter

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To: PeterR1700 who wrote (906)11/3/1997 9:52:00 AM
From: Dan'l Leviton
   of 2062
 
Peter, My response started to sound too much like hype, so I'm sending it to you via email.

Dan'l

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To: Dan'l Leviton who wrote (907)11/3/1997 10:37:00 AM
From: PeterR1700
   of 2062
 
Daniel - haven't received your e-mail but looking forward to it.
Thanks, Peter

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To: PeterR1700 who wrote (908)11/3/1997 4:00:00 PM
From: NicholasC
   of 2062
 
Dow rally over 7600 and the Bears and Bulls are fighting SYMC out with such low volume today. Time for the Bears to hybronate and SYMC to climb up over 25. Who will win. A little help from the brokers with an upgrade should be coming soon.

Luck to all.

NC

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To: NicholasC who wrote (909)11/3/1997 4:48:00 PM
From: Dennis G.
   of 2062
 
SYMC has certainly earned an upgrade now. I'd love to see it. All we need is a little push to get it started to 25+.

Dennis

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To: Dennis G. who wrote (910)11/3/1997 5:08:00 PM
From: NicholasC
   of 2062
 
Dennis I agree, how many brokerage firms follow symc?

NC

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To: NicholasC who wrote (911)11/3/1997 6:44:00 PM
From: Dennis G.
   of 2062
 
Zacks shows 5 analysts following SYMC but I don't know who they are. I do know that Merrill isn't one of them. Maybe someone else has more info.

Dennis

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