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5 Big Things To Know About Dell Selling (Or Buying) VMware

‘The Dell ownership structure has been an albatross around the VMware story and ultimately causes the stock to trade at a discount,’ says equity research analyst Daniel Ives of Wedbush Securities.

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Both VMware And Dell Stock Price Jump

After the news broke Tuesday night about a potential VMware spin off or remaining stake purchase by Dell, both companies’ stock jumped. Dell Technologies’ stock price soared 18 percent to $57.80 a share in after-market trading Tuesday, while VMware’s stock price jumped 9 percent to $162.80 a share.

As of Wednesday afternoon, Dell’s stock is currently trading up 6 percent at $52.19 per share, while VMware is trading up 2 percent at $153.17 per share.

Amit Daryanani, senior managing director of equity research for Evercore, said Dell has value that is not currently reflected in its share price, suggesting Dell may be worth roughly $80 per share.

“Our valuation suggests Dell could be worth a significant premium versus its current trading price but some of the factors that could be weighing down the company’s current valuation include: high net leverage; concentrated ownership (Michael Dell and Silver Lake); conglomerate discount; and corporate governance (limited voting rights),” said Daryanani in a note.

 

 
 
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