VMware (NYSE:VMW) Price Target Lowered to $140.00 at Barclays

VMware (NYSE:VMW) had its price target trimmed by Barclays from $163.00 to $140.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the virtualization software provider’s stock.

VMW has been the topic of a number of other reports. Stifel Nicolaus upped their target price on VMware from $175.00 to $185.00 and gave the company a buy rating in a research report on Friday, August 27th. Morgan Stanley reissued a hold rating and set a $160.00 price target on shares of VMware in a research report on Friday, October 8th. Citigroup began coverage on VMware in a research report on Monday, September 20th. They set a buy rating and a $190.00 price target on the stock. TheStreet lowered VMware from a b rating to a c+ rating in a research report on Thursday, November 18th. Finally, Credit Suisse Group began coverage on VMware in a research report on Tuesday, November 16th. They set an outperform rating and a $175.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, VMware presently has an average rating of Hold and a consensus target price of $154.18.

Shares of VMW opened at $118.70 on Wednesday. The firm has a 50 day simple moving average of $139.27. VMware has a 52-week low of $114.01 and a 52-week high of $172.00. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 2.16 and a beta of 0.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.11.

VMware (NYSE:VMW) last announced its earnings results on Tuesday, November 23rd. The virtualization software provider reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.18. VMware had a return on equity of 23.49% and a net margin of 16.77%. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $1.05 EPS. VMware’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that VMware will post 4.6 earnings per share for the current year.

The business also recently disclosed a dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 29th were paid a dividend of $27.40 per share. This is an increase from VMware’s previous dividend of $26.81. The ex-dividend date of this dividend was Tuesday, November 2nd.

In related news, President Sumit Dhawan sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $146.52, for a total transaction of $234,432.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy Fliegelman Olli sold 1,478 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $147.18, for a total value of $217,532.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,344 shares of company stock valued at $794,470. 27.80% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tudor Investment Corp Et Al lifted its holdings in shares of VMware by 101.8% during the second quarter. Tudor Investment Corp Et Al now owns 42,649 shares of the virtualization software provider’s stock valued at $6,823,000 after purchasing an additional 21,514 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of VMware by 4.0% during the second quarter. Northern Trust Corp now owns 758,578 shares of the virtualization software provider’s stock valued at $121,349,000 after purchasing an additional 29,514 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of VMware during the second quarter valued at $27,000. Marshall Wace North America L.P. lifted its holdings in shares of VMware by 279.3% during the second quarter. Marshall Wace North America L.P. now owns 118,821 shares of the virtualization software provider’s stock valued at $19,007,000 after purchasing an additional 87,497 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its holdings in shares of VMware by 16.8% during the second quarter. Violich Capital Management Inc. now owns 26,070 shares of the virtualization software provider’s stock valued at $4,170,000 after purchasing an additional 3,750 shares during the last quarter. 16.99% of the stock is owned by institutional investors and hedge funds.

About VMware

VMware, Inc engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.

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