Vmware’s (VMW) Hold Rating Reiterated at Berenberg Bank
Berenberg Bank reiterated their hold rating on shares of Vmware, Inc. (NYSE:VMW) in a report issued on Tuesday. They currently have a $94.00 price target on the virtualization software provider’s stock.
Other research analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $110.00 price objective (up from $105.00) on shares of Vmware in a report on Saturday, June 3rd. MKM Partners reaffirmed a buy rating and issued a $110.00 price objective (up from $100.00) on shares of Vmware in a report on Thursday, June 1st. Drexel Hamilton reaffirmed a buy rating and issued a $113.00 price objective (up from $105.00) on shares of Vmware in a report on Monday, June 5th. BidaskClub downgraded shares of Vmware from a strong-buy rating to a buy rating in a report on Saturday, June 10th. Finally, Stifel Nicolaus raised shares of Vmware from a hold rating to a buy rating and raised their price objective for the stock from $96.00 to $109.00 in a report on Wednesday, June 21st. Sixteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $106.24.
Shares of Vmware (NYSE VMW) opened at 108.10 on Tuesday. The stock has a 50 day moving average of $95.32 and a 200-day moving average of $92.46. Vmware has a 52-week low of $71.81 and a 52-week high of $108.33. The firm has a market capitalization of $44.28 billion, a P/E ratio of 38.91 and a beta of 0.77.
Vmware (NYSE:VMW) last released its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.34%. Vmware’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Equities analysts expect that Vmware will post $5.06 earnings per share for the current fiscal year.
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Vmware announced that its Board of Directors has initiated a share repurchase program on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $87.84, for a total value of $1,796,942.88. Following the sale, the chief operating officer now owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $94.66, for a total transaction of $1,063,694.42. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Vmware by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,299 shares of the virtualization software provider’s stock worth $463,000 after buying an additional 14 shares during the period. Federated Investors Inc. PA raised its stake in shares of Vmware by 0.4% in the second quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock worth $1,339,000 after buying an additional 66 shares during the period. Capstone Asset Management Co. raised its stake in shares of Vmware by 2.4% in the second quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock worth $335,000 after buying an additional 90 shares during the period. Laurion Capital Management LP raised its stake in shares of Vmware by 2.8% in the second quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock worth $323,000 after buying an additional 100 shares during the period. Finally, CFO4Life Group LLC raised its stake in shares of Vmware by 2.2% in the second quarter. CFO4Life Group LLC now owns 5,644 shares of the virtualization software provider’s stock worth $493,000 after buying an additional 121 shares during the period. 21.80% of the stock is currently owned by institutional investors and hedge funds.
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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