VMware (VMW) Hits New 1-Year High at $189.32

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VMware, Inc. (NYSE:VMW) shares hit a new 52-week high on Wednesday . The company traded as high as $189.32 and last traded at $189.44, with a volume of 14575 shares. The stock had previously closed at $185.70.

A number of research analysts recently weighed in on the company. Oppenheimer dropped their price objective on VMware from $180.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, January 8th. Jefferies Financial Group reiterated a “buy” rating and set a $203.00 target price on shares of VMware in a research report on Friday, March 1st. KeyCorp boosted their target price on VMware from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Morgan Stanley downgraded VMware from an “overweight” rating to an “equal” rating and decreased their target price for the stock from $175.00 to $152.00 in a research report on Tuesday, January 15th. Finally, Citigroup boosted their target price on VMware from $166.00 to $201.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $179.61.

The stock has a market capitalization of $76.22 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.93 and a beta of 0.77. The company has a debt-to-equity ratio of 7.70, a current ratio of 0.99 and a quick ratio of 0.99.

VMware (NYSE:VMW) last released its earnings results on Thursday, February 28th. The virtualization software provider reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.10. VMware had a return on equity of 25.50% and a net margin of 26.99%. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.68 earnings per share. As a group, analysts expect that VMware, Inc. will post 4.94 EPS for the current fiscal year.

In related news, insider P. Kevan Krysler sold 11,993 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $184.04, for a total transaction of $2,207,191.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger sold 30,095 shares of the stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $146.78, for a total value of $4,417,344.10. The disclosure for this sale can be found here. Insiders have sold 315,520 shares of company stock worth $54,700,239 over the last quarter. 29.90% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of VMware by 1.9% in the third quarter. Vanguard Group Inc. now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after buying an additional 82,729 shares in the last quarter. Vanguard Group Inc boosted its holdings in VMware by 1.9% in the third quarter. Vanguard Group Inc now owns 4,387,621 shares of the virtualization software provider’s stock valued at $684,732,000 after purchasing an additional 82,729 shares during the last quarter. Investec Asset Management LTD boosted its holdings in VMware by 1.9% in the fourth quarter. Investec Asset Management LTD now owns 2,433,549 shares of the virtualization software provider’s stock valued at $333,713,000 after purchasing an additional 45,534 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in VMware by 0.3% during the 3rd quarter. Clearbridge Investments LLC now owns 2,304,551 shares of the virtualization software provider’s stock worth $359,648,000 after buying an additional 7,342 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in VMware by 3.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,224,799 shares of the virtualization software provider’s stock worth $191,142,000 after buying an additional 37,753 shares during the last quarter. Institutional investors own 17.94% of the company’s stock.

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About VMware (NYSE:VMW)

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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