VMware (VMW) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their outperform rating on shares of VMware (NYSE:VMW) in a research note published on Friday morning, The Fly reports. Wedbush currently has a $200.00 price target on the virtualization software provider’s stock.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of VMware from a sell rating to a hold rating in a research report on Tuesday, August 21st. Maxim Group raised their price objective on shares of VMware from $142.00 to $150.00 and gave the stock a hold rating in a research report on Friday, August 24th. Stifel Nicolaus raised their price objective on shares of VMware from $122.00 to $142.00 and gave the stock a hold rating in a research report on Friday, August 24th. William Blair reaffirmed an outperform rating on shares of VMware in a research report on Friday, August 24th. Finally, Nomura raised their price objective on shares of VMware from $111.00 to $115.00 and gave the stock a reduce rating in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $167.81.

Shares of VMW stock opened at $167.34 on Friday. The company has a market cap of $68.40 billion, a PE ratio of 43.35, a P/E/G ratio of 2.67 and a beta of 0.72. VMware has a 52 week low of $108.46 and a 52 week high of $168.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.01 and a quick ratio of 3.01.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, November 29th. The virtualization software provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.14 by $0.42. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.17 billion. VMware had a net margin of 17.03% and a return on equity of 20.49%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. On average, sell-side analysts expect that VMware will post 4.72 earnings per share for the current fiscal year.

In related news, COO Rajiv Ramaswami sold 12,345 shares of the 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 transaction, the chief operating officer now directly owns 218,011 shares in the company, valued at approximately $31,334,721.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger sold 25,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $152.13, for a total value of $3,803,250.00. Following the completion of the transaction, the chief executive officer now owns 411,923 shares in the company, valued at $62,665,845.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,608 shares of company stock worth $11,852,164. 29.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. TLP Group LLC bought a new position in VMware during the 3rd quarter valued at $118,000. Moneta Group Investment Advisors LLC lifted its stake in VMware by 217.5% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,000 shares of the virtualization software provider’s stock valued at $147,000 after acquiring an additional 685 shares in the last quarter. Signet Financial Management LLC bought a new position in VMware during the 2nd quarter valued at $151,000. Tower Research Capital LLC TRC bought a new position in VMware during the 3rd quarter valued at $181,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in VMware during the 3rd quarter valued at $202,000. Institutional investors own 19.93% of the company’s stock.

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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