VMware (VMW) PT Raised to $199.00 at KeyCorp

VMware (NYSE:VMW) had its target price boosted by equities research analysts at KeyCorp from $167.00 to $199.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has an “overweight” rating on the virtualization software provider’s stock. KeyCorp’s price target suggests a potential upside of 18.92% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Barclays reiterated a “buy” rating and issued a $175.00 price target on shares of VMware in a report on Sunday, August 26th. Jefferies Financial Group increased their price target on VMware from $186.00 to $196.00 and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded VMware from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Maxim Group increased their price target on VMware from $142.00 to $150.00 and gave the stock a “hold” rating in a report on Friday, August 24th. Finally, Stifel Nicolaus increased their price target on VMware from $122.00 to $142.00 and gave the stock a “hold” rating in a report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. VMware presently has an average rating of “Buy” and a consensus target price of $167.81.

NYSE VMW opened at $167.34 on Friday. VMware has a one year low of $108.46 and a one year high of $168.42. The company has a market cap of $66.00 billion, a P/E ratio of 43.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.72. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.41.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, November 29th. The virtualization software provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.42. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.17 billion. VMware had a return on equity of 20.49% and a net margin of 17.03%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. As a group, research analysts predict that VMware will post 4.72 EPS for the current fiscal year.

In other VMware news, CEO Patrick P. Gelsinger sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $150.00, for a total value of $3,750,000.00. Following the completion of the sale, the chief executive officer now directly owns 407,743 shares of the company’s stock, valued at $61,161,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rajiv Ramaswami sold 12,345 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $143.73, for a total value of $1,774,346.85. Following the completion of the sale, the chief operating officer now directly owns 218,011 shares of the company’s stock, valued at $31,334,721.03. The disclosure for this sale can be found here. Insiders sold 78,608 shares of company stock valued at $11,852,164 over the last three months. Company insiders own 29.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC grew its position in shares of VMware by 0.3% in the third quarter. Clearbridge Investments LLC now owns 2,304,551 shares of the virtualization software provider’s stock valued at $359,648,000 after purchasing an additional 7,342 shares in the last quarter. Vanguard Group Inc. grew its position in shares of VMware by 1.9% in the third quarter. Vanguard Group Inc. now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after purchasing an additional 82,729 shares in the last quarter. Legal & General Group Plc grew its position in shares of VMware by 4.2% in the third quarter. Legal & General Group Plc now owns 313,923 shares of the virtualization software provider’s stock valued at $48,991,000 after purchasing an additional 12,693 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of VMware by 8.1% in the third quarter. Neuberger Berman Group LLC now owns 7,017 shares of the virtualization software provider’s stock valued at $1,095,000 after purchasing an additional 526 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of VMware by 41.0% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 222,700 shares of the virtualization software provider’s stock valued at $34,755,000 after purchasing an additional 64,800 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

VMware Company Profile

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

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