Topic: How To Invest

Power Growth Investor Hotline – Friday, May 14, 2021

Article Excerpt

NORTONLIFELOCK INC., $26.09, is a buy. The company (symbol NLOK on Nasdaq) has two main businesses: Norton computer antivirus software for individuals; and LifeLock identity-theft protection. The stock soared over 24% this week after the company announced strong results in the latest quarter. As well, NortonLifeLock has approved an incremental share repurchase authorization of $1.5 billion. Along with the current $274 million remaining on the existing plan, this new authorization increases the total share repurchases remaining to approximately $1.8 billion. As of April 2, 2021, the company has returned $1.33 billion to shareholders through the repurchase of 58 million common shares since becoming a standalone company in November 2019. Meanwhile, NortonLifeLock continues to attract new customers as more people working from home spurs a jump in cyberattacks. It, in fact, closed its fiscal 2021 fourth quarter, ended April 2, 2021, with 23.0 million customers. That’s up 13.9% from a year earlier. However, due to the sale of less-important businesses, overall revenue in the…

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