VMware (NYSE:VMW) Upgraded to “Overweight” at KeyCorp

KeyCorp upgraded shares of VMware (NYSE:VMW) from a sector weight rating to an overweight rating in a research report report published on Monday, December 18th, MarketBeat reports. The firm currently has $142.00 target price on the virtualization software provider’s stock.

A number of other research firms have also issued reports on VMW. Drexel Hamilton reissued a buy rating and set a $120.00 price target on shares of VMware in a research report on Thursday, November 2nd. Bank of America reaffirmed a buy rating and set a $125.00 target price (up from $120.00) on shares of VMware in a report on Thursday, September 14th. Oppenheimer reaffirmed a buy rating on shares of VMware in a report on Tuesday, August 29th. Barclays raised shares of VMware from an equal weight rating to an overweight rating and boosted their price target for the stock from $109.00 to $130.00 in a report on Thursday, September 14th. Finally, Robert W. Baird reissued a buy rating and issued a $120.00 price target (up previously from $115.00) on shares of VMware in a report on Friday, August 25th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $125.20.

VMware (NYSE VMW) traded down $0.74 during midday trading on Monday, reaching $132.53. 1,185,700 shares of the company’s stock were exchanged, compared to its average volume of 2,040,000. VMware has a 1-year low of $80.90 and a 1-year high of $133.33. The stock has a market cap of $53,430.00, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.51.

VMware (NYSE:VMW) last released its quarterly earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. VMware had a net margin of 18.97% and a return on equity of 18.57%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. equities research analysts expect that VMware will post 3.77 earnings per share for the current year.

In related news, Director Egon Durban sold 435,682 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Maurizio Carli sold 2,581 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $129.88, for a total value of $335,220.28. The disclosure for this sale can be found here. Insiders sold 484,155 shares of company stock valued at $53,551,032 over the last three months. Corporate insiders own 34.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. increased its position in shares of VMware by 1,643.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after buying an additional 1,200 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of VMware by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after buying an additional 240 shares in the last quarter. Enterprise Financial Services Corp increased its position in shares of VMware by 3,975.6% in the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after buying an additional 1,630 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of VMware in the second quarter valued at $191,000. Finally, Cadence Capital Management LLC purchased a new position in shares of VMware in the third quarter valued at $204,000. Hedge funds and other institutional investors own 22.53% of the company’s stock.

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About VMware

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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