Royal Bank Of Canada reaffirmed their buy rating on shares of Vmware, Inc. (NYSE:VMW) in a research note issued to investors on Tuesday. They currently have a $113.00 price objective on the virtualization software provider’s stock.
Other equities research analysts also recently issued research reports about the company. Jefferies Group LLC reaffirmed a buy rating and set a $110.00 target price (up previously from $105.00) on shares of Vmware in a report on Saturday, June 3rd. MKM Partners reaffirmed a buy rating and set a $110.00 target price (up previously from $100.00) on shares of Vmware in a report on Thursday, June 1st. Drexel Hamilton reaffirmed a buy rating and set a $113.00 target price (up previously from $105.00) on shares of Vmware in a report on Monday, June 5th. BidaskClub downgraded Vmware from a strong-buy rating to a buy rating in a report on Saturday, June 10th. Finally, Stifel Nicolaus raised Vmware from a hold rating to a buy rating and lifted their target price for the stock from $96.00 to $109.00 in a report on Wednesday, June 21st. Eighteen equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Vmware currently has a consensus rating of Buy and a consensus price target of $101.12.
Vmware (NYSE:VMW) opened at 96.27 on Tuesday. The firm has a 50-day moving average price of $91.66 and a 200-day moving average price of $91.57. Vmware has a 12 month low of $71.81 and a 12 month high of $98.20. The stock has a market cap of $39.32 billion, a price-to-earnings ratio of 34.65 and a beta of 0.77.
Vmware (NYSE:VMW) last released its earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.04. Vmware had a return on equity of 17.19% and a net margin of 17.36%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Vmware will post $5.01 earnings per share for the current fiscal year.
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Vmware declared that its board has authorized a share buyback program on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Maurizio Carli sold 11,237 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in 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 position in 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 position in 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 position in 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, Gulf International Bank UK Ltd raised its position in Vmware by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 24,556 shares of the virtualization software provider’s stock worth $2,262,000 after buying an additional 115 shares during the period. 21.82% of the stock is currently owned by institutional investors.
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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