Credit Suisse Group assumed coverage on shares of VMware (NYSE:VMW) in a report released on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $160.00 target price on the virtualization software provider’s stock.
Several other research firms have also recently commented on VMW. Nomura set a $128.00 target price on VMware and gave the company a reduce rating in a research note on Friday, November 30th. JPMorgan Chase & Co. lifted their target price on VMware from $165.00 to $194.00 and gave the company an overweight rating in a research note on Friday, November 30th. KeyCorp lifted their target price on VMware from $167.00 to $199.00 and gave the company an overweight rating in a research note on Friday, November 30th. Royal Bank of Canada lifted their target price on VMware from $180.00 to $200.00 and gave the company an outperform rating in a research note on Friday, November 30th. They noted that the move was a valuation call. Finally, Raymond James lifted their target price on VMware from $174.00 to $190.00 and gave the company an outperform rating in a research note on Friday, November 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. VMware presently has a consensus rating of Buy and a consensus target price of $169.09.
Shares of NYSE VMW traded down $2.18 during midday trading on Friday, hitting $146.70. The stock had a trading volume of 1,522,239 shares, compared to its average volume of 1,765,430. The stock has a market capitalization of $61.62 billion, a P/E ratio of 38.01, a price-to-earnings-growth ratio of 2.24 and a beta of 0.68. VMware has a fifty-two week low of $108.46 and a fifty-two week high of $169.25. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.04 and a current ratio of 3.04.
VMware (NYSE:VMW) last released its earnings results on Thursday, November 29th. The virtualization software provider reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.42. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.17 billion. VMware had a return on equity of 19.62% and a net margin of 17.03%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Equities research analysts forecast that VMware will post 4.77 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Friday, December 28th. Investors of record on Thursday, December 27th were paid a dividend of $26.81 per share. The ex-dividend date was Monday, December 31st.
In other VMware news, COO Sanjay Poonen sold 16,135 shares of VMware stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $147.88, for a total transaction of $2,386,043.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,500 shares of VMware stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $165.08, for a total value of $1,073,020.00. Following the transaction, the chief financial officer now owns 89,276 shares in the company, valued at $14,737,682.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,980 shares of company stock valued at $14,583,411. 29.90% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. TLP Group LLC bought a new position in VMware during the third quarter worth about $118,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of VMware by 217.5% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,000 shares of the virtualization software provider’s stock valued at $147,000 after purchasing an additional 685 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of VMware in the third quarter valued at about $181,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of VMware in the third quarter valued at about $202,000. Finally, Calamos Advisors LLC bought a new stake in shares of VMware in the third quarter valued at about $204,000. Hedge funds and other institutional investors own 18.52% 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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