SYMANTEC CORP. $23.62 - Nasdaq symbol SYMC

SYMANTEC CORP. $23.62 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 689.2 million; Market cap: $16.7 billion; Dividend yield: 2.5%) sells computersecurity technology, including anti-virus and emailfiltering software, to businesses and consumers.

In its fiscal 2013 fourth quarter, which ended March 29, 2013, Symantec’s revenue rose 4.4%, to $1.75 billion from $1.68 billion a year earlier. Earnings per share rose 15.8%, to $0.44 from $0.38.

Symantec is laying off 30% to 40% of its managers and streamlining its product lines. This restructuring should increase its gross profit margin (gross profits as a percentage of revenue) from 25.7% in fiscal 2013 to at least 30% in fiscal 2015.

The company also announced that it will begin paying a quarterly dividend of $0.15 a share in June 2013. The annual rate of $0.60 yields 2.5%, based on today’s price.

Symantec is a buy.

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