Dell Technologies (NYSE:DELL – Get Rating) updated its FY 2024 earnings guidance on Sunday. The company provided earnings per share (EPS) guidance of $5.25-$5.75 for the period, compared to the consensus estimate of $5.31. The company issued revenue guidance of $83.89 billion-$90.03 billion, compared to the consensus revenue estimate of $86.98 billion. Dell Technologies also updated its Q2 2024 guidance to $1.00-$1.20 EPS.
Wall Street Analysts Forecast Growth
A number of research firms have commented on DELL. JPMorgan Chase & Co. cut Dell Technologies from an overweight rating to a neutral rating and set a $47.00 price target for the company. in a research note on Monday, April 17th. Credit Suisse Group raised their price objective on Dell Technologies from $50.00 to $56.00 in a research note on Friday. Evercore ISI raised their price objective on Dell Technologies from $50.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, May 19th. The Goldman Sachs Group started coverage on Dell Technologies in a research note on Monday, March 20th. They issued a buy rating and a $43.00 price objective for the company. Finally, Citigroup reduced their price objective on Dell Technologies from $53.00 to $50.00 in a research note on Friday, March 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $49.81.
Dell Technologies Price Performance
NYSE DELL opened at $47.27 on Monday. Dell Technologies has a 1-year low of $32.90 and a 1-year high of $51.75. The company has a market cap of $34.56 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.02. The stock’s 50 day simple moving average is $43.85 and its 200-day simple moving average is $41.91.
Insider Buying and Selling at Dell Technologies
In other Dell Technologies news, General Counsel Richard J. Rothberg sold 200,958 shares of Dell Technologies stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $45.36, for a total value of $9,115,454.88. Following the sale, the general counsel now owns 149,379 shares in the company, valued at $6,775,831.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Richard J. Rothberg sold 200,958 shares of Dell Technologies stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $45.36, for a total value of $9,115,454.88. Following the completion of the sale, the general counsel now directly owns 149,379 shares of the company’s stock, valued at $6,775,831.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Brunilda Rios sold 22,042 shares of Dell Technologies stock in a transaction on Monday, April 17th. The shares were sold at an average price of $43.78, for a total value of $964,998.76. Following the completion of the sale, the chief accounting officer now directly owns 18,647 shares of the company’s stock, valued at $816,365.66. The disclosure for this sale can be found here. Insiders have sold 522,371 shares of company stock worth $22,038,868 over the last quarter. 48.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of DELL. Arrowstreet Capital Limited Partnership grew its stake in Dell Technologies by 655.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,534,968 shares of the technology company’s stock worth $182,351,000 after purchasing an additional 3,934,878 shares in the last quarter. Norges Bank acquired a new position in shares of Dell Technologies during the 4th quarter worth about $111,100,000. Goldman Sachs Group Inc. boosted its position in shares of Dell Technologies by 80.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,976,265 shares of the technology company’s stock worth $249,759,000 after acquiring an additional 2,222,995 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Dell Technologies by 296.7% during the 1st quarter. Renaissance Technologies LLC now owns 2,402,877 shares of the technology company’s stock worth $96,620,000 after acquiring an additional 1,797,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Dell Technologies by 78.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,424,666 shares of the technology company’s stock worth $71,566,000 after acquiring an additional 624,628 shares in the last quarter. 26.42% of the stock is owned by institutional investors and hedge funds.
Dell Technologies Company Profile
Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.
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