Starboard Value Takes Stake in No-Moat Symantec; Maintaining $19 FVE
On Aug. 16, activist investor Starboard Value took a 5.8% stake in Symantec, seeking five board seats on the company's 11-person board. Given that our valuation is based on our expectations for revenue and earnings over the next five years, we are maintaining our $19 fair value estimate and no-moat rating, as we have no indication that Starboard’s involvement will alter Symantec’s capital structure or go-to-market strategy.Symantec has been plagued by guidance reductions the past two quarters ...
Symantec is a provider of cyber security. The company provides cyber security products, services and solutions to organizations and individuals worldwide. The company's Enterprise Security portfolio includes a mix of products, services and solutions, delivered as part of an Integrated Cyber Defense platform. The company's platform unifies cloud and on-premises security to provide threat protection and information protection across endpoints, networks, email, and cloud applications. The company also provides services, support services, and cyber security services. The company's Cyber Safety solutions from Norton LifeLock help consumers protect their devices, online privacy, identities, and home networks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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