Moffett Nathanson assumed coverage on shares of Vmware, Inc. (NYSE:VMW) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $120.00 price objective on the virtualization software provider’s stock.
A number of other equities research analysts have also recently commented on the stock. William Blair reaffirmed an outperform rating on shares of Vmware in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. increased their price target on shares of Vmware from $110.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, September 5th. Credit Suisse Group started coverage on shares of Vmware in a report on Tuesday, September 5th. They set an outperform rating and a $130.00 price target for the company. Zacks Investment Research raised shares of Vmware from a hold rating to a buy rating and set a $121.00 price target for the company in a report on Monday, September 4th. Finally, KeyCorp reissued a sector weight rating on shares of Vmware in a report on Friday, September 1st. Fourteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $109.88.
Shares of Vmware (VMW) opened at 106.10 on Wednesday. The stock’s 50 day moving average price is $97.78 and its 200-day moving average price is $93.04. The firm has a market capitalization of $43.46 billion, a PE ratio of 38.19 and a beta of 0.74. Vmware has a 52-week low of $72.05 and a 52-week high of $108.33.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. Vmware had a net margin of 17.81% and a return on equity of 18.34%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Vmware will post $5.06 EPS 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 buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider P. Kevan Krysler sold 13,751 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $107.69, for a total transaction of $1,480,845.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,208 shares of company stock worth $3,924,708. 0.52% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of VMW. BlackRock Inc. raised its stake in Vmware by 4,817.7% during the first quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock worth $469,811,000 after purchasing an additional 4,995,179 shares during the period. Janus Henderson Group PLC raised its stake in Vmware by 6,030.7% during the second quarter. Janus Henderson Group PLC now owns 806,433 shares of the virtualization software provider’s stock worth $70,506,000 after purchasing an additional 793,279 shares during the period. Voya Investment Management LLC raised its stake in Vmware by 25.7% during the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after purchasing an additional 538,393 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Vmware by 75.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,169,757 shares of the virtualization software provider’s stock worth $102,272,000 after purchasing an additional 501,400 shares during the period. Finally, Koch Industries Inc. raised its stake in Vmware by 16,537.3% during the second quarter. Koch Industries Inc. now owns 479,821 shares of the virtualization software provider’s stock worth $474,000 after purchasing an additional 476,937 shares during the period. 21.81% 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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