Drexel Hamilton restated their buy rating on shares of VMware, Inc. (NYSE:VMW) in a research report sent to investors on Thursday. They currently have a $120.00 price target on the virtualization software provider’s stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of VMware from a hold rating to a buy rating and set a $121.00 target price for the company in a research report on Monday, September 4th. Citigroup Inc. restated a buy rating and set a $124.00 target price on shares of VMware in a research report on Monday, August 28th. Berenberg Bank reiterated a hold rating and set a $94.00 price target on shares of VMware in a report on Tuesday, August 29th. Jefferies Group LLC lifted their price target on shares of VMware from $121.00 to $129.00 and gave the stock a buy rating in a report on Friday, August 25th. Finally, Credit Suisse Group started coverage on shares of VMware in a report on Tuesday, September 5th. They set an outperform rating and a $130.00 price target for the company. Fifteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. VMware has a consensus rating of Buy and a consensus target price of $114.91.
Shares of VMware (NYSE:VMW) traded down $1.18 on Thursday, reaching $117.94. 1,348,875 shares of the company’s stock were exchanged, compared to its average volume of 1,785,937. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $48.23 billion, a PE ratio of 33.49, a P/E/G ratio of 2.73 and a beta of 0.67. VMware has a one year low of $74.85 and a one year high of $121.09.
VMware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. VMware had a net margin of 17.81% and a return on equity of 18.06%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 earnings per share. research analysts predict that VMware will post 3.79 earnings per share for the current fiscal year.
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VMware declared that its board has approved a share repurchase program on Monday, August 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total transaction of $47,624,399.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Rajiv Ramaswami sold 9,747 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $118.16, for a total transaction of $1,151,705.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 466,314 shares of company stock worth $51,024,652. Corporate insiders own 0.52% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of VMW. Dimensional Fund Advisors LP raised its holdings in VMware by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 89,123 shares of the virtualization software provider’s stock valued at $8,211,000 after acquiring an additional 875 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in VMware by 4.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 170,870 shares of the virtualization software provider’s stock valued at $15,744,000 after acquiring an additional 8,017 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in VMware in the first quarter valued at $141,000. Driehaus Capital Management LLC acquired a new stake in VMware in the first quarter valued at $270,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in VMware by 69.5% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 23,909 shares of the virtualization software provider’s stock valued at $2,090,000 after acquiring an additional 9,800 shares in the last quarter. 22.28% of the stock is currently owned by hedge funds and other institutional investors.
VMware Company Profile
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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