VMware (NYSE:VMW) PT Lowered to $154.00 at Piper Sandler

VMware (NYSE:VMW) had its target price reduced by Piper Sandler from $178.00 to $154.00 in a report issued on Wednesday, The Fly reports. They currently have an overweight rating on the virtualization software provider’s stock.

Several other equities research analysts also recently commented on the company. Mizuho reduced their price objective on VMware from $165.00 to $138.00 and set a neutral rating for the company in a report on Monday, November 15th. Citigroup started coverage on VMware in a report on Monday, September 20th. They issued a buy rating and a $190.00 price objective for the company. Morgan Stanley reiterated a hold rating and issued a $160.00 price objective on shares of VMware in a report on Friday, October 8th. TheStreet downgraded VMware from a b rating to a c+ rating in a research note on Thursday, November 18th. Finally, Stifel Nicolaus boosted their price target on VMware from $175.00 to $185.00 and gave the company a buy rating in a research note on Friday, August 27th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $154.18.

VMW opened at $118.70 on Wednesday. The stock has a 50-day moving average of $139.27. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $49.71 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 2.16 and a beta of 0.75. VMware has a 1 year low of $114.01 and a 1 year high of $172.00.

VMware (NYSE:VMW) last posted its quarterly earnings results on Tuesday, November 23rd. The virtualization software provider reported $1.72 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. VMware’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that VMware will post 4.6 EPS for the current fiscal year.

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

In related news, President Sumit Dhawan sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $146.52, for a total value of $234,432.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amy Fliegelman Olli sold 2,266 shares of the business’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $151.15, for a total value of $342,505.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,344 shares of company stock worth $794,470. Insiders own 27.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of VMware by 13.6% during the 3rd quarter. BlackRock Inc. now owns 8,232,104 shares of the virtualization software provider’s stock worth $1,224,113,000 after acquiring an additional 982,947 shares in the last quarter. Dodge & Cox increased its position in shares of VMware by 5.1% during the 2nd quarter. Dodge & Cox now owns 7,180,825 shares of the virtualization software provider’s stock valued at $1,148,717,000 after purchasing an additional 345,270 shares during the last quarter. Nordea Investment Management AB increased its position in shares of VMware by 93.8% during the 3rd quarter. Nordea Investment Management AB now owns 4,756,520 shares of the virtualization software provider’s stock valued at $713,288,000 after purchasing an additional 2,302,135 shares during the last quarter. State Street Corp increased its position in shares of VMware by 11.4% during the 2nd quarter. State Street Corp now owns 2,108,263 shares of the virtualization software provider’s stock valued at $337,259,000 after purchasing an additional 215,248 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of VMware by 3.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,988,849 shares of the virtualization software provider’s stock valued at $295,742,000 after purchasing an additional 61,896 shares during the last quarter. 16.99% of the stock is currently owned by institutional investors and hedge funds.

VMware Company Profile

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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