According to Bloomberg the software company is hiring JPMorgan (JPM) to help explore its options. A similar report from Reuters doesn't specify a bank, but says that some major activist funds "have already started examining the company as a potential target."
"The company commonly engages financial advisers to help with the business," said Symantec's chief communications officer Colleen Lacter told Bloomberg.
The news comes two weeks after Symantec fired CEO Steve Bennett, which made the stock hit new 52-week lows.
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TheStreet Ratings team rates SYMANTEC CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYMANTEC CORP (SYMC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, reasonable valuation levels, growth in earnings per share, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."