Vmware, Inc. (NYSE:VMW) has been given a consensus recommendation of “Buy” by the thirty-five brokerages that are covering the company, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $112.28.

A number of equities research analysts have weighed in on VMW shares. BidaskClub lowered Vmware from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Stifel Nicolaus raised Vmware from a “hold” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $109.00 in a report on Wednesday, June 21st. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Thursday, July 13th. Citigroup Inc. lifted their price objective on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Mizuho lifted their price objective on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, August 14th.

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Shares of Vmware (NYSE VMW) opened at 111.53 on Friday. Vmware has a 52 week low of $72.27 and a 52 week high of $112.00. The stock has a 50 day moving average price of $107.16 and a 200-day moving average price of $95.77. The stock has a market cap of $45.61 billion, a P/E ratio of 40.15 and a beta of 0.72.

Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities analysts predict that Vmware will post $5.07 EPS for the current fiscal year.

Vmware announced that its Board of Directors has authorized a share buyback program on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, COO Rajiv Ramaswami sold 20,457 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider P. Kevan Krysler sold 13,751 shares of the firm’s 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. Insiders have sold 41,342 shares of company stock valued at $4,045,490 over the last 90 days. 0.52% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of VMW. BlackRock Inc. boosted its holdings 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 buying an additional 4,995,179 shares in the last quarter. Janus Henderson Group PLC boosted its holdings 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 buying an additional 793,279 shares in the last quarter. Voya Investment Management LLC boosted its holdings 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 buying an additional 538,393 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings 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 buying an additional 501,400 shares in the last quarter. Finally, Koch Industries Inc. boosted its holdings 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 buying an additional 476,937 shares in the last quarter. Hedge funds and other institutional investors own 21.82% of the company’s stock.

About Vmware

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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