Vmware, Inc. (NYSE:VMW) had its target price boosted by Jefferies Group LLC from $121.00 to $129.00 in a research report released on Friday morning. Jefferies Group LLC currently has a buy rating on the virtualization software provider’s stock.

Other research analysts have also issued reports about the stock. BMO Capital Markets lifted their price target on shares of Vmware from $105.00 to $110.00 and gave the company a market perform rating in a report on Tuesday, August 15th. MKM Partners reaffirmed a buy rating and issued a $110.00 price target (up from $100.00) on shares of Vmware in a report on Thursday, June 1st. Deutsche Bank AG raised shares of Vmware from a hold rating to a buy rating and lifted their price target for the company from $110.00 to $120.00 in a report on Tuesday, August 22nd. Royal Bank Of Canada lifted their price target on shares of Vmware from $97.00 to $110.00 and gave the company an outperform rating in a report on Wednesday, May 31st. Finally, Citigroup Inc. lifted their price target on shares of Vmware from $120.00 to $124.00 and gave the company a buy rating in a report on Friday, August 11th. Sixteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Vmware has a consensus rating of Buy and an average target price of $105.50.

Shares of Vmware (NYSE:VMW) opened at 104.68 on Friday. The firm has a market cap of $42.88 billion, a PE ratio of 37.68 and a beta of 0.77. Vmware has a 52-week low of $71.81 and a 52-week high of $105.59. The stock has a 50 day moving average price of $93.36 and a 200-day moving average price of $91.99.

Vmware (NYSE:VMW) last announced its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. Vmware had a net margin of 17.81% and a return on equity of 18.34%. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. On average, equities analysts anticipate that Vmware will post $5.01 EPS for the current fiscal year.

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

In other news, EVP Maurizio Carli sold 11,237 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $94.66, for a total value of $1,063,694.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction on Monday, July 10th. The stock was 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 owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of VMW. BlackRock Inc. boosted its position in Vmware by 4,817.7% in the first quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock valued at $469,811,000 after buying an additional 4,995,179 shares during the last quarter. Vanguard Group Inc. boosted its position in Vmware by 9.9% in the first quarter. Vanguard Group Inc. now owns 3,930,665 shares of the virtualization software provider’s stock valued at $362,171,000 after buying an additional 352,516 shares during the last quarter. Investec Asset Management LTD boosted its position in Vmware by 3.0% in the second quarter. Investec Asset Management LTD now owns 2,669,142 shares of the virtualization software provider’s stock valued at $233,363,000 after buying an additional 78,558 shares during the last quarter. Voya Investment Management LLC boosted its position in Vmware by 25.7% in the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock valued at $230,241,000 after buying an additional 538,393 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Vmware by 10.6% in the first quarter. Clearbridge Investments LLC now owns 2,556,102 shares of the virtualization software provider’s stock valued at $235,519,000 after buying an additional 244,512 shares during the last quarter. Institutional investors and hedge funds own 21.80% 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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