Morgan Stanley Reiterates “Underweight” Rating for Dell Technologies (NYSE:DELL)

Dell Technologies (NYSE:DELL)‘s stock had its “underweight” rating reiterated by research analysts at Morgan Stanley in a report released on Monday,Benzinga reports. They currently have a $110.00 price target on the technology company’s stock, down from their previous price target of $144.00. Morgan Stanley’s price objective indicates a potential downside of 17.65% from the company’s current price.

A number of other analysts have also weighed in on DELL. Daiwa Capital Markets upped their target price on shares of Dell Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Bank of America upped their price target on shares of Dell Technologies from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Cowen reiterated a “hold” rating on shares of Dell Technologies in a research report on Friday, August 29th. Piper Sandler began coverage on Dell Technologies in a research report on Tuesday, October 21st. They set an “overweight” rating and a $172.00 target price for the company. Finally, Susquehanna raised their price target on Dell Technologies from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.10.

Dell Technologies Price Performance

NYSE:DELL opened at $133.58 on Monday. Dell Technologies has a 1 year low of $66.25 and a 1 year high of $168.08. The stock’s fifty day moving average price is $143.87 and its two-hundred day moving average price is $128.95. The company has a market cap of $89.82 billion, a P/E ratio of 19.64, a P/E/G ratio of 0.91 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The company had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, analysts expect that Dell Technologies will post 6.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,537,755 shares of company stock worth $642,644,973 over the last quarter. Corporate insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Dell Technologies by 42.7% during the fourth quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock valued at $347,000 after buying an additional 901 shares during the last quarter. Larson Financial Group LLC lifted its position in Dell Technologies by 424.1% in the first quarter. Larson Financial Group LLC now owns 870 shares of the technology company’s stock valued at $79,000 after purchasing an additional 704 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Dell Technologies by 20.7% in the first quarter. Victory Capital Management Inc. now owns 130,666 shares of the technology company’s stock worth $11,910,000 after purchasing an additional 22,401 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Dell Technologies by 270.7% in the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock worth $28,000 after buying an additional 222 shares during the period. Finally, South Dakota Investment Council bought a new stake in Dell Technologies during the 1st quarter valued at $775,000. Hedge funds and other institutional investors own 76.37% of the company’s stock.

About Dell Technologies

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).