EMC Corporation (EMC) is Downgraded by UBS to Neutral, Price Target at $30

EMC Corporation (EMC) was Downgraded by UBS to ” Neutral” and the brokerage firm has set the Price Target at $30. Earlier the firm had a rating of “Buy ” on the company shares. UBS advised their investors in a research report released on Jun 1, 2016.

Many Wall Street Analysts have commented on EMC Corporation. EMC Corporation was Downgraded by Longbow to ” Neutral” on May 27, 2016. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .

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.

EMC Corporation closed down -0.01 points or -0.04% at $27.83 with 77,34,785 shares getting traded on Friday. Post opening the session at $27.71, the shares hit an intraday low of $27.68 and an intraday high of $27.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

In a different news, on Aug 11, 2015, Yoran Amit (President, RSA) sold 21,487 shares at $27.17 per share price. According to the SEC, on Mar 6, 2015, David I Goulden (CEO, EMCII) sold 85,500 shares at $28.09 per share price. On Mar 4, 2015, Paul T Dacier (EVP & General Counsel) sold 47,365 shares at $28.93 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

EMC Corporation

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