Lynn Vojvodich, a director at Dell Technologies Inc. (NYSE:DELL), recently sold 725 shares of the company's Class C common stock. The shares were sold at a price of $120 each, resulting in a total transaction value of $87,000. This transaction was part of a Rule 10b5-1 trading plan that Vojvodich adopted on July 15, 2024. Dell, currently valued at $79.36 billion, has shown strong momentum with a 38% return over the past year. According to InvestingPro analysis, the company is trading near its Fair Value, while management has been actively buying back shares.
Additionally, Vojvodich acquired 725 shares of Class C common stock at a price of $31.14 per share through the exercise of options. The total value of this acquisition was $22,576. Following these transactions, Vojvodich's direct ownership in Dell Technologies stands at 23,680 shares.
The options exercised are fully vested, with an expiration date set for April 2, 2029. These transactions reflect Vojvodich's ongoing management of her holdings in Dell Technologies.
In other recent news, Dell Technologies reported a 10% increase in third-quarter earnings, hitting $24.4 billion, driven primarily by the Infrastructure Solutions Group's focus on AI infrastructure and server solutions. The company's earnings per share rose to $2.15, marking a 14% year-over-year increase. Dell has also issued nearly four million shares of its Class C common stock following the conversion of an equal number of Class B common stock shares.
In product development, Dell Technologies has unveiled groundbreaking PC monitors, including the world's first with enhanced IPS Black technology and QD-OLED panel. The company has also introduced a new AI-enhanced PC lineup aimed at enhancing user productivity and creativity.
On the analyst front, Bernstein analysts at SocGen Group have maintained an Outperform rating on Dell's shares, reflecting confidence in the company's operational strengths. However, TD Cowen maintained its Hold rating on Dell, citing underperformance in the PC segment and delayed revenue from AI initiatives.
In other developments, xAI announced plans to expand its Colossus supercomputer facility in Memphis by adding over one million Graphics Processing Units (GPUs), involving Fortune 500 companies Nvidia (NASDAQ:NVDA), Dell, and Supermicro Computer. These are the recent developments in Dell Technologies.
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