Dell Technologies (NYSE:DELL) Price Target Raised to $155.00 at Melius Research

Dell Technologies (NYSE:DELL) had its target price lifted by Melius Research from $140.00 to $155.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Melius Research’s target price would indicate a potential upside of 24.62% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Fox Advisors raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Raymond James decreased their target price on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Mizuho began coverage on Dell Technologies in a research report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price target on the stock. Sanford C. Bernstein decreased their price objective on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Finally, Susquehanna assumed coverage on shares of Dell Technologies in a report on Tuesday, September 10th. They set a “neutral” rating and a $120.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.18.

Dell Technologies Stock Performance

NYSE DELL opened at $124.38 on Wednesday. Dell Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $179.70. The stock has a market cap of $87.36 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89. The stock has a 50 day simple moving average of $127.21 and a two-hundred day simple moving average of $126.94.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts predict that Dell Technologies will post 6.93 earnings per share for the current year.

Insider Buying and Selling at Dell Technologies

In other news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the sale, the chief executive officer now owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the completion of the sale, the insider now owns 73,263 shares of the company’s stock, valued at $8,593,017.27. This represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,962,112 shares of company stock worth $2,114,595,059. Insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Dell Technologies by 92.4% in the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after buying an additional 6,131,507 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after acquiring an additional 2,641,456 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Dell Technologies by 19,376.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after acquiring an additional 2,415,234 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Dell Technologies by 2.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after purchasing an additional 51,804 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its holdings in Dell Technologies by 48.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock worth $254,479,000 after purchasing an additional 699,204 shares during the period. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Company Profile

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).