VMware’s (VMW) Hold Rating Reaffirmed at Maxim Group

VMware (NYSE:VMW)‘s stock had its “hold” rating reiterated by research analysts at Maxim Group in a note issued to investors on Friday, TipRanks reports.

Other research analysts have also recently issued research reports about the stock. KeyCorp reaffirmed an “overweight” rating and issued a $214.00 price target (up previously from $206.00) on shares of VMware in a report on Friday, May 31st. Zacks Investment Research cut VMware from a “hold” rating to a “sell” rating and set a $178.00 target price on the stock. in a research note on Wednesday, June 5th. Citigroup increased their target price on VMware from $201.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley reduced their target price on VMware from $192.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, May 31st. Finally, Wedbush reissued an “outperform” rating on shares of VMware in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $192.23.

Shares of VMware stock traded down $0.33 during trading on Friday, hitting $155.43. The stock had a trading volume of 30,911 shares, compared to its average volume of 1,277,560. The stock has a market capitalization of $64.23 billion, a price-to-earnings ratio of 31.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.81. VMware has a 12 month low of $129.33 and a 12 month high of $206.80. The company’s 50-day moving average price is $171.85. The company has a debt-to-equity ratio of 7.57, a quick ratio of 0.97 and a current ratio of 0.97.

VMware (NYSE:VMW) last released its quarterly earnings results on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.42. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.25 billion. VMware had a net margin of 21.50% and a return on equity of 36.48%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, sell-side analysts expect that VMware will post 4.87 earnings per share for the current fiscal year.

In other news, COO Rajiv Ramaswami sold 38,813 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $170.58, for a total transaction of $6,620,721.54. Following the completion of the sale, the chief operating officer now directly owns 181,243 shares in the company, valued at $30,916,430.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zane Rowe sold 22,579 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $175.21, for a total transaction of $3,956,066.59. Following the sale, the chief financial officer now owns 166,974 shares of the company’s stock, valued at $29,255,514.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,053 shares of company stock valued at $14,639,696. Company insiders own 28.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Clarus Wealth Advisors purchased a new stake in shares of VMware during the second quarter worth about $29,000. Coastal Capital Group Inc. purchased a new stake in shares of VMware during the second quarter worth about $29,000. TRUE Private Wealth Advisors purchased a new stake in shares of VMware during the second quarter worth about $31,000. AdvisorNet Financial Inc boosted its holdings in shares of VMware by 629.0% during the second quarter. AdvisorNet Financial Inc now owns 226 shares of the virtualization software provider’s stock worth $38,000 after purchasing an additional 195 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of VMware during the first quarter worth about $51,000. Institutional investors own 17.98% of the company’s stock.

VMware Company Profile

VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.

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