Short Interest in Dell Technologies Inc. (NYSE:DELL) Grows By 7.5%

Dell Technologies Inc. (NYSE:DELL) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 10,140,000 shares, a growth of 7.5% from the October 31st total of 9,430,000 shares. Based on an average trading volume of 9,570,000 shares, the days-to-cover ratio is currently 1.1 days.

Dell Technologies Trading Down 0.2 %

Shares of Dell Technologies stock opened at $125.54 on Wednesday. Dell Technologies has a 1-year low of $67.51 and a 1-year high of $179.70. The firm has a fifty day simple moving average of $127.74 and a 200-day simple moving average of $126.39. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.35 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 earnings per share. As a group, research analysts predict that Dell Technologies will post 6.92 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.42%. Dell Technologies’s dividend payout ratio (DPR) is presently 31.45%.

Insider Activity at Dell Technologies

In other Dell Technologies news, CFO Yvonne Mcgill sold 8,000 shares of Dell Technologies stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $143.24, for a total value of $1,145,920.00. Following the transaction, the chief financial officer now owns 236,419 shares in the company, valued at approximately $33,864,657.56. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William F. Scannell sold 42,595 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,962,112 shares of company stock worth $2,114,595,059 over the last quarter. 46.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after purchasing an additional 6,131,507 shares during the period. Geode Capital Management LLC raised its position in shares of Dell Technologies by 71.8% during the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after buying an additional 2,641,456 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Dell Technologies by 19,376.1% in the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after buying an additional 2,415,234 shares during the period. DekaBank Deutsche Girozentrale grew its position in Dell Technologies by 2.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after buying an additional 51,804 shares in the last quarter. Finally, Alkeon Capital Management LLC increased its stake in Dell Technologies by 48.3% during the third quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock valued at $254,479,000 after acquiring an additional 699,204 shares during the period. Institutional investors and hedge funds own 38.10% of the company’s stock.

Analyst Upgrades and Downgrades

DELL has been the topic of a number of analyst reports. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their target price on Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 18th. TD Cowen decreased their target price on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Morgan Stanley upped their price target on shares of Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $148.06.

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).