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The Best And Worst Technology Company Stocks In The First Half Of 2018

Twenty-eight of the 44 technology companies on our watch list recorded gains in the price of their publicly traded shares in the first half of 2018. Take a look at who were the winners and who were the losers.

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F5 Networks

CEO: Francois Locoh-Donou

Dec. 29, 2017 Close: $131.22

June 29, 2018 Close: $172.45

Change: +31.42%

For its fiscal 2018 third quarter (ended June 30), F5 Networks reported revenue of $542.2 million, up nearly 5 percent from $517.8 million in the third quarter of fiscal 2017. The company said that growth was fueled by its software solutions and services business.

Net income for the quarter was $122.7 million, up nearly 26 percent from $97.7 million one year earlier.

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Commvault Systems

CEO: N. Robert Hammer

Dec. 29, 2017 Close: $52.50

June 29, 2018 Close: $65.85

Change: +25.43%

On May 1 Commvault reported disappointing fiscal 2018 fourth-quarter results and said that it was searching for a successor to president and CEO N. Robert Hammer as part of a broader "strategic transformation plan." Hammer will remain as chairman once a successor is hired.

The "Commvault Advance" plan and its governance initiatives were part of an agreement between the company and hedge fund investment firm Elliott Management, which owns 10.3 percent of the company's stock.

For the fourth quarter ended March 31, Commvault reported revenue of $184.9 million, up nearly 11 percent from $166.7 million in the same quarter one year earlier. But the company reported a loss of $1.66 million for the quarter compared with net income of $197,000 one year before.

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Splunk

CEO: Doug Merritt

Dec. 29, 2017 Close: $82.84

June 29, 2018 Close: $99.11

Change: +19.64%

Machine data analytics software vendor Splunk made a pair of significant acquisitions in the first half of 2018. In April it bought Phantom Cyber Corp., a developer of security orchestration, automation and response software, for $350 million. And in June it acquired VictorOps, a provider of DevOps incident management technology, for approximately $120 million.

For the first half (ended July 31) of fiscal 2019, Splunk reported revenue of $699.9 million, up 38 percent from $507.0 million in the first half of fiscal 2018. The company's loss for the six-month period was $222.0 million compared with the $193.7 million loss in the same period one year earlier.

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Citrix Systems

CEO: David Henshall

Dec. 29, 2017 Close: $88.00

June 29, 2018 Close: $104.84

Change: +19.14%

Citrix, a developer of software that optimizes application performance and content delivery across hybrid and multi-cloud environments, in the last year has undertaken a major overhaul of its product portfolio, reorganized its business units, and continued its transition to a subscription model.

In February the company struck a deal to repurchase $750 million of its common stock from Goldman Sachs & Co. In May, in a meeting with financial analysts at the company's Synergy customer conference, Citrix said it is aiming for revenue growth of at least 6 percent for 2022 and a 2022 non-GAAP operating margin of 33 percent.

For its second quarter ended June 30, Citrix reported revenue of $742.4 million, up 7 percent from $$693.2 million one year earlier. Net income for the quarter was $106.8 million, down 1.8 percent from $108.8 million one year before.

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VMware

CEO: Pat Gelsinger

Dec. 29, 2017 Close: $125.32

June 29, 2018 Close: $146.96

Change: +17.27%

On July 2 Dell Technologies, which owns a majority of VMware's shares following its 2016 acquisition of EMC, announced a plan to go public as part of a share swap with its VMware tracking stock. The announcement ended months of speculation about VMware's future under Dell and sent VMware's shares soaring above the June 29 closing price in our analysis.

For the first six months (ended Aug. 3) of fiscal 2019, VMware reported revenue of $4.18 billion, up 13 percent from $3.70 billion in the first half of fiscal 2018. Net income for the six-month period was $1.59 billion, up 144 percent from the $650 million net income in the first half of fiscal 2018.

 
 
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