Bank of America Lowers Dell Technologies (NYSE:DELL) Price Target to $55.00

Dell Technologies (NYSE:DELLGet Rating) had its price target dropped by analysts at Bank of America from $60.00 to $55.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Bank of America‘s price target would indicate a potential upside of 23.29% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft cut their price target on Dell Technologies from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, August 26th. Cowen cut their price target on Dell Technologies from $58.00 to $45.00 and set a “market perform” rating for the company in a report on Friday, August 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Dell Technologies in a report on Friday, August 26th. Barclays cut their price target on Dell Technologies from $49.00 to $41.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, UBS Group cut their price target on Dell Technologies from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.38.

Dell Technologies Trading Up 1.7 %

NYSE DELL opened at $44.61 on Tuesday. The company has a market cap of $32.70 billion, a PE ratio of 18.74, a PEG ratio of 0.60 and a beta of 0.92. Dell Technologies has a 12 month low of $32.90 and a 12 month high of $61.54. The stock has a 50 day moving average of $37.60 and a 200-day moving average of $42.39.

Dell Technologies (NYSE:DELLGet Rating) last released its quarterly earnings data on Monday, November 21st. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $1.59 by $0.71. The company had revenue of $24.72 million during the quarter, compared to the consensus estimate of $24.61 billion. Dell Technologies had a negative return on equity of 235.07% and a net margin of 1.74%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.37 EPS. As a group, sell-side analysts predict that Dell Technologies will post 5.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William F. Scannell sold 27,536 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $40.20, for a total value of $1,106,947.20. Following the transaction, the insider now owns 343,835 shares in the company, valued at $13,822,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DELL. Trustcore Financial Services LLC bought a new position in Dell Technologies in the first quarter valued at about $26,000. Ellevest Inc. grew its position in Dell Technologies by 156.2% in the third quarter. Ellevest Inc. now owns 802 shares of the technology company’s stock valued at $27,000 after acquiring an additional 489 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Dell Technologies in the first quarter valued at about $27,000. Centerpoint Advisors LLC grew its position in Dell Technologies by 307.5% in the second quarter. Centerpoint Advisors LLC now owns 599 shares of the technology company’s stock valued at $28,000 after acquiring an additional 452 shares during the last quarter. Finally, Riverview Trust Co grew its position in Dell Technologies by 166.1% in the third quarter. Riverview Trust Co now owns 809 shares of the technology company’s stock valued at $28,000 after acquiring an additional 505 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

About Dell Technologies

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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).

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