Stockpickr: PC-Security List

Additionally, the list of those accumulating the stock reads like a who's who of value investors.

For one, Carl Icahn lists the stock in his recent regulatory filings. Icahn, probably the most active activist right now, recently has taken aggressive stances in Motorola (MOT Quote), WCI Communities(WCI Quote) and others. You can see his most recent investing activity by checking out the Carl Icahn portfolio on Stockpickr.

Symantec is also among the holdings of deep-value investor Bruce Sherman of Private Capital. Sherman, as I've mentioned before, is particularly known for investing in the sorts of value companies that end up being bought by Warren Buffett's Berkshire Hathaway(BRK.A Quote).

Extreme activist investor Bob Chapman of Chapman Capital also has been accumulating the stock, although he hasn't actively called for change. Chapman has been active recently in eSpeed(ESPD Quote) and Embarcadero Technologies(EMBT Quote).

My guess is if Symantec's stock stays down at these levels, the above-mentioned investors will start clamoring for change. They will want a buyback program, perhaps an increased dividend, and they'll want the company to put itself up for sale.

Oracle(ORCL Quote) and Microsoft, among others, would be possible buyers. Symantec was among the companies I offered as possible acquisition targets for Oracle in a recent Stockpickr column and in a portfolio I created called "Who Should Oracle Buy?" The stock can easily see 30%-40% gain from these levels over the next year, particularly as growth kicks back in.