Dell Technologies (NYSE:DELL) Stock Rating Upgraded by Zacks Research

Key Points

• Dell Technologies has been upgraded by Zacks Research from a "hold" to a "strong-buy" rating, reflecting increasing analyst confidence in the company's stock.
• Goldman Sachs and UBS have both raised their target prices for Dell Technologies, now setting them at $175.00 and $186.00 respectively, suggesting a bullish outlook on the stock.
• In recent insider trading, a director sold over 152,000 shares, indicating significant movement within the company's equity by insiders amidst the stock upgrades.

Dell Technologies (NYSE:DELL - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. UBS Group boosted their price objective on Dell Technologies from $155.00 to $186.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. KeyCorp started coverage on Dell Technologies in a research note on Thursday, June 26th. They set a "sector weight" rating on the stock. Fox Advisors lowered Dell Technologies from an "overweight" rating to an "equal weight" rating in a research note on Friday, August 29th. Finally, Daiwa Capital Markets boosted their price objective on Dell Technologies from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $160.79.

Dell Technologies Trading Down 3.0%

Shares of DELL stock opened at $148.77 on Monday. Dell Technologies has a twelve month low of $66.25 and a twelve month high of $166.10. The stock has a 50 day moving average of $134.81 and a 200 day moving average of $117.75. The stock has a market cap of $100.03 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.05 and a beta of 1.05.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 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, research analysts predict that Dell Technologies will post 6.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 152,918 shares of the company's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $148.46, for a total transaction of $22,702,206.28. Following the sale, the director owned 1,243 shares in the company, valued at $184,535.78. This represents a 99.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Green sold 42,736 shares of the company's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total value of $6,837,760.00. Following the sale, the director owned 47,619 shares in the company, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,557,418 shares of company stock worth $643,788,249 in the last quarter. 42.00% of the stock is owned by company insiders.

Institutional Trading of Dell Technologies

Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Dell Technologies by 25.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company's stock valued at $224,000 after purchasing an additional 506 shares during the period. First Hawaiian Bank lifted its position in Dell Technologies by 67.1% during the 1st quarter. First Hawaiian Bank now owns 34,878 shares of the technology company's stock worth $3,179,000 after acquiring an additional 14,010 shares during the period. Carolina Wealth Advisors LLC acquired a new stake in Dell Technologies during the 2nd quarter worth approximately $8,869,000. Mather Group LLC. lifted its position in Dell Technologies by 113.3% during the 1st quarter. Mather Group LLC. now owns 1,043 shares of the technology company's stock worth $95,000 after acquiring an additional 554 shares during the period. Finally, Westbourne Investments Inc. lifted its position in Dell Technologies by 167.5% during the 1st quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company's stock worth $1,988,000 after acquiring an additional 13,657 shares during the period. 76.37% of the stock is owned by institutional investors and hedge funds.

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).

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