Norges Bank Acquires Shares of 4,824,824 Dell Technologies Inc. $DELL

Key Points

• Norges Bank disclosed a new stake in Dell Technologies, buying 4.82 million shares valued at about $607.3 million and representing roughly 0.73% of the company.
• Dell reported a major earnings beat, with $43.8 billion in revenue and $4.86 EPS, far above Wall Street expectations, as revenue rose 88% year over year.
• The growth was driven by surging AI server demand, with AI-optimized server revenue jumping 757% to $16.1 billion; Dell also raised full-year guidance to $165 billion-$169 billion in revenue.

Norges Bank acquired a new stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,824,824 shares of the technology company's stock, valued at approximately $607,349,000. Norges Bank owned about 0.73% of Dell Technologies as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DELL. Brighton Jones LLC raised its stake in shares of Dell Technologies by 42.7% during the 4th 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. Sivia Capital Partners LLC purchased a new position in shares of Dell Technologies during the 2nd quarter valued at about $328,000. Marshall Wace LLP purchased a new position in shares of Dell Technologies in the 2nd quarter valued at about $809,000. Gamco Investors INC. ET AL increased its stake in shares of Dell Technologies by 30.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 6,680 shares of the technology company's stock valued at $819,000 after purchasing an additional 1,550 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Dell Technologies by 147.2% in the 2nd quarter. NewEdge Advisors LLC now owns 58,009 shares of the technology company's stock valued at $7,112,000 after purchasing an additional 34,538 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DELL. TD Cowen lifted their price target on Dell Technologies from $150.00 to $450.00 and gave the company a "hold" rating in a research note on Friday. Sanford C. Bernstein lifted their price target on Dell Technologies from $280.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group set a $700.00 price target on Dell Technologies in a research note on Friday. Roth Mkm began coverage on Dell Technologies in a research note on Friday. They issued a "buy" rating for the company. Finally, Morgan Stanley upgraded Dell Technologies from an "underweight" rating to a "buy" rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $421.00.

Dell Technologies News Roundup

Here are the key news stories impacting Dell Technologies this week:

• Positive Sentiment: Dell reported revenue of $43.8 billion, up 88% year over year, and EPS of $4.86, far above Wall Street expectations, signaling a major earnings beat. Dell Technologies Delivers First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: AI server demand was the main catalyst: Dell said AI-optimized server revenue jumped 757% to $16.1 billion, with $24.4 billion of AI orders and a record backlog, showing demand remains very strong. Reuters: Dell raises annual forecasts as AI data center buildout fuels demand
• Positive Sentiment: Management raised full-year guidance to $165 billion-$169 billion in revenue and lifted AI-server revenue expectations, which suggests the growth surge may continue into the next quarters. WSJ: Dell Raises Fiscal Year Outlook After Sales Soar 88%
• Positive Sentiment: Analysts turned more bullish after the report, with multiple firms raising price targets sharply, which can add momentum to the stock. Benzinga: Dell's AI-Fueled Surge May Be Far From Over
• Neutral Sentiment: The Pentagon contract is strategically important and supports Dell’s enterprise/software relationships, but investors appear to be focusing more on the AI-server earnings beat than the contract itself. CNBC: Dell wins a $9.7 billion Pentagon software deal

Insider Buying and Selling

In other news, insider William F. Scannell sold 143,067 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $165.00, for a total transaction of $23,606,055.00. Following the transaction, the insider directly owned 21,779 shares in the company, valued at $3,593,535. The trade was a 86.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey W. Clarke sold 116,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $182.48, for a total value of $21,167,680.00. Following the transaction, the chief operating officer owned 1,687,414 shares in the company, valued at approximately $307,919,306.72. This represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,071,687 shares of company stock valued at $501,560,818. 41.50% of the stock is currently owned by company insiders.

Dell Technologies Trading Up 0.0%

DELL stock opened at $420.96 on Monday. Dell Technologies Inc. has a 12-month low of $106.38 and a 12-month high of $429.15. The stock has a market cap of $271.83 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.55 and a beta of 1.30. The business's 50-day moving average is $216.82 and its 200 day moving average is $159.50.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The technology company reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $1.90. Dell Technologies had a negative return on equity of 366.90% and a net margin of 6.28%.The company had revenue of $43.84 billion for the quarter, compared to analysts' expectations of $35.74 billion. During the same period in the previous year, the firm posted $1.55 EPS. Dell Technologies's revenue was up 87.5% compared to the same quarter last year. Dell Technologies has set its FY 2027 guidance at 17.900-17.900 EPS and its Q2 2027 guidance at 4.800-4.800 EPS. As a group, equities analysts forecast that Dell Technologies Inc. will post 12.21 EPS for the current fiscal year.

Dell Technologies Company Profile

Dell Technologies Inc is a multinational technology company that designs, manufactures and sells a broad range of information technology products, solutions and services. Its offerings span client computing devices (consumer and commercial laptops and desktops), enterprise infrastructure (servers, storage systems and networking equipment), software and cloud infrastructure, and a variety of professional services such as IT consulting, deployment, managed services and financing solutions. The company serves organizations of all sizes as well as individual consumers, with products and services aimed at enabling digital transformation and modern IT environments.

Founded by Michael Dell in 1984, the company grew from a direct-to-consumer PC business into a diversified IT provider through organic expansion and strategic acquisitions.

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