Short Interest Summary: What’s in Synnex Corporation (NYSE:SNX) After Rise in Shorted Shares?

November 16, 2016 - By Linda Rogers   ·   0 Comments

Short Interest Summary: What’s in Synnex Corporation (NYSE:SNX) After Rise in Shorted Shares?

The stock of Synnex Corporation (NYSE:SNX) registered an increase of 12.07% in short interest. SNX’s total short interest was 1.48 million shares in November as published by FINRA. Its up 12.07% from 1.32 million shares, reported previously. With 219,900 shares average volume, it will take short sellers 7 days to cover their SNX’s short positions. The short interest to Synnex Corporation’s float is 5.11%. About 12,165 shares traded hands. SYNNEX Corporation (NYSE:SNX) has risen 29.08% since April 14, 2016 and is uptrending. It has outperformed by 24.39% the S&P500.

SYNNEX Corporation is a process services company. The company has a market cap of $4.58 billion. The Firm offers a range of services to resellers, retailers, original equipment manufacturers , financial and insurance institutions, and other industry verticals across the world. It has a 21.38 P/E ratio. The Firm operates in two divisions: Technology Solutions and Concentrix.

Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.08, from 1.1 in 2016Q1. The ratio is negative, as 28 funds sold all SYNNEX Corporation shares owned while 70 reduced positions. 23 funds bought stakes while 77 increased positions. They now own 29.55 million shares or 15.74% less from 35.07 million shares in 2016Q1.
Advsrs Asset Inc owns 6,691 shares or 0.01% of their US portfolio. Vanguard Group has 2.94M shares for 0.02% of their US portfolio. The North Carolina-based Bragg Advisors Incorporated has invested 0.51% in SYNNEX Corporation (NYSE:SNX). Proshare Advsrs Lc, a Maryland-based fund reported 6,063 shares. Los Angeles Capital Mngmt & Equity Research accumulated 25,700 shares or 0.02% of the stock. Panagora Asset Mgmt Inc has invested 0.02% of its portfolio in SYNNEX Corporation (NYSE:SNX). Dimensional Fund Advsr Limited Partnership last reported 0.16% of its portfolio in the stock. Moreover, State Board Of Administration Of Florida Retirement System has 0% invested in SYNNEX Corporation (NYSE:SNX) for 13,572 shares. California Pub Employees Retirement reported 69,400 shares or 0.01% of all its holdings. Envestnet Asset has invested 0% of its portfolio in SYNNEX Corporation (NYSE:SNX). Shell Asset Management Commerce holds 0.1% or 47,518 shares in its portfolio. Ubs Asset Mngmt Americas has 0% invested in the company for 34,163 shares. Wesbanco Natl Bank Incorporated holds 0.05% of its portfolio in SYNNEX Corporation (NYSE:SNX) for 9,232 shares. Price T Rowe Associates Md has 857,072 shares for 0.02% of their US portfolio. Diam Ltd has invested 0.04% of its portfolio in SYNNEX Corporation (NYSE:SNX).

Insider Transactions: Since May 20, 2016, the stock had 0 insider buys, and 48 insider sales for $43.34 million net activity. $463,232 worth of SYNNEX Corporation (NYSE:SNX) was sold by PEER DEVELOPMENTS LTD. Zulberti Andrea M sold $248,401 worth of SYNNEX Corporation (NYSE:SNX) on Friday, July 22. $2.00M worth of SYNNEX Corporation (NYSE:SNX) was sold by MIAU MATTHEW on Monday, October 17. $1.10M worth of SYNNEX Corporation (NYSE:SNX) was sold by SILVER STAR DEVELOPMENTS LTD on Tuesday, October 18. LAROCQUE PETER also sold $275,135 worth of SYNNEX Corporation (NYSE:SNX) on Thursday, October 13. On Wednesday, June 1 POLK DENNIS sold $30,322 worth of the stock or 335 shares. 1,000 SYNNEX Corporation (NYSE:SNX) shares with value of $93,712 were sold by LEUNG SIMON.

SYNNEX Corporation (NYSE:SNX) Ratings Coverage

Out of 8 analysts covering SYNNEX (NYSE:SNX), 1 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 13% are positive. SYNNEX has been the topic of 15 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James on Wednesday, March 23 to “Underperform”. As per Friday, June 24, the company rating was maintained by Brean Capital. The stock has “Hold” rating given by Cross Research on Thursday, March 24. The rating was maintained by Stifel Nicolaus with “Hold” on Tuesday, September 27. The firm has “Hold” rating by Zacks given on Thursday, August 27. The firm has “Buy” rating given on Friday, September 25 by Brean Capital. The firm has “Hold” rating given on Tuesday, September 29 by Needham. As per Monday, May 2, the company rating was downgraded by Citigroup. The firm has “Sell” rating given on Thursday, August 20 by Zacks. The firm earned “Hold” rating on Friday, June 24 by Needham.

SNX Company Profile

SYNNEX Corporation, incorporated on October 4, 2003, is a process services company. The Firm offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Firm operates in two divisions: Technology Solutions and Concentrix. The Company’s Technology Solutions segment distributes a range of information technology (IT) systems and products, and also provides systems design and integration solutions. The Company’s Concentrix segment offers a portfolio of solutions and end-to-end business outsourcing services, which focuses on customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in approximately 10 industry verticals.

More notable recent SYNNEX Corporation (NYSE:SNX) news were published by: Prnewswire.com which released: “SYNNEX Corporation Reports Fiscal 2016 Second Quarter Results” on June 23, 2016, also Prnewswire.com with their article: “SYNNEX Corporation Reports Fiscal 2015 Fourth Quarter and Full Year Results” published on January 07, 2016, Streetinsider.com published: “SYNNEX Corp. (SNX) to Acquire Minacs in $420M Deal” on July 11, 2016. More interesting news about SYNNEX Corporation (NYSE:SNX) were released by: Prnewswire.com and their article: “Verizon Launches Value Added Distributor Program with SYNNEX Corporation” published on March 14, 2016 as well as Equitiesfocus.com‘s news article titled: “Synnex Corporation (NYSE:SNX) Fixes Dividend Payout At $0.25” with publication date: November 15, 2016.

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By Linda Rogers


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