Becker Capital Management Inc buys $69.3 Million stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Becker Capital Management Inc scooped up 220 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 25, 2016. The investment management firm now holds a total of 2,491,144 shares of EMC Corporation which is valued at $69.3 Million.EMC Corporation makes up approximately 2.89% of Becker Capital Management Inc’s portfolio.

Other Hedge Funds, Including , D. E. Shaw boosted its stake in EMC in the latest quarter, The investment management firm added 1,585,272 additional shares and now holds a total of 9,333,063 shares of EMC Corporation which is valued at $259.6 Million. EMC Corporation makes up approx 0.58% of D. E. Shaw’s portfolio. Capital Analysts added EMC to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $5,474.Dimensional Fund Advisors Lp reduced its stake in EMC by selling 121,957 shares or 0.92% in the most recent quarter. The Hedge Fund company now holds 13,146,453 shares of EMC which is valued at $359.8 Million. EMC Corporation makes up approx 0.22% of Dimensional Fund Advisors Lp’s portfolio.

EMC Corporation (EMC) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $27.74 and reached the intraday high at $27.98. The bulls started the profit booking and pushed the shares to intraday low of $27.72. The trading session was marked by a volume range of 1,01,09,870 shares exchanging hands. The 52-week high of the shares is $28.77 and the 52-week low is $22.66. The market cap of the company stands at $54,592 M and there are 1,95,31,96,700 shares in public circulation.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Investors should note that on May 16, 2016, EMC Corporation announced a cash dividend of $0.1150. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 22, 2016.

Many Wall Street Analysts have commented on EMC Corporation. EMC Corporation was Downgraded by Sterne Agee CRT to ” Neutral” on Jun 2, 2016. UBS Downgraded EMC Corporation on Jun 1, 2016 to ” Neutral”, Price Target of the shares are set at $30.EMC Corporation was Downgraded by Longbow to ” Neutral” on May 27, 2016.

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

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