Dell Technologies (NYSE:DELL) Rating Lowered to Hold at Zacks Research

Dell Technologies (NYSE:DELL) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on DELL. The Goldman Sachs Group lifted their price objective on Dell Technologies from $155.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group raised their price objective on shares of Dell Technologies from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Daiwa Capital Markets boosted their target price on Dell Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Piper Sandler began coverage on Dell Technologies in a report on Tuesday, October 21st. They set an “overweight” rating and a $172.00 price target for the company. Finally, Mizuho lifted their price objective on Dell Technologies from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.35.

Dell Technologies Price Performance

NYSE:DELL opened at $119.27 on Tuesday. The stock has a market cap of $80.20 billion, a P/E ratio of 17.54, a PEG ratio of 0.84 and a beta of 1.02. The company has a fifty day moving average price of $143.79 and a 200 day moving average price of $129.29. Dell Technologies has a one year low of $66.25 and a one year high of $168.08.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The business had revenue of $26.43 billion during the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts anticipate that Dell Technologies will post 6.93 EPS for the current year.

Insider Activity at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $135.98, for a total value of $112,183,364.02. The SEC filing for this sale provides additional information. Insiders sold 4,537,755 shares of company stock worth $642,644,973 over the last 90 days. 42.00% of the stock is currently owned by company insiders.

Institutional Trading of Dell Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. grew its holdings in Dell Technologies by 3.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,829 shares of the technology company’s stock valued at $259,000 after purchasing an additional 63 shares during the period. Flagship Harbor Advisors LLC raised its stake in Dell Technologies by 1.3% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 5,563 shares of the technology company’s stock worth $789,000 after buying an additional 71 shares during the period. Westside Investment Management Inc. lifted its holdings in Dell Technologies by 35.8% during the third quarter. Westside Investment Management Inc. now owns 296 shares of the technology company’s stock worth $43,000 after acquiring an additional 78 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Dell Technologies by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 21,631 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 78 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Dell Technologies by 2.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,559 shares of the technology company’s stock worth $504,000 after acquiring an additional 81 shares in the last quarter. 76.37% of the stock is owned by institutional investors.

About Dell Technologies

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).