EMC Director Purchases $115,518 in Stock (EMC)
EMC (NYSE:EMC) Director Warren K. Davis bought 1,283,529 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was purchased at an average price of $0.09 per share, for a total transaction of $115,517.61. Following the completion of the purchase, the director now directly owns 1,283,529 shares in the company, valued at approximately $115,518. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of EMC (NYSE:EMC) traded down 0.10% during mid-day trading on Thursday, hitting $29.41. The stock had a trading volume of 5,059,146 shares. EMC has a one year low of $23.15 and a one year high of $30.13. The stock has a 50-day moving average of $28.73 and a 200-day moving average of $27.08. The company has a market cap of $59.663 billion and a P/E ratio of 24.01. EMC also was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 32,487,229 shares, a drop of 14.8% from the July 31st total of 38,115,425 shares. Based on an average trading volume of 14,863,194 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.6% of the company’s stock are short sold.
EMC (NYSE:EMC) last released its earnings data on Wednesday, July 23rd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.96 by $0.53. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $160.80 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that EMC will post $1.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 23rd. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Monday, September 29th.
EMC has been the subject of a number of recent research reports. Analysts at FBR Capital Markets raised their price target on shares of EMC from $33.00 to $35.00 in a research note on Monday, August 4th. They now have an “outperform” rating on the stock. Separately, analysts at Argus raised their price target on shares of EMC from $30.00 to $35.00 in a research note on Thursday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of EMC in a research note on Thursday, July 24th. They now have a $34.00 price target on the stock, up previously from $31.00. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $31.39.
EMC Corporation (NYSE:EMC), and its subsidiaries develop, deliver and support the Information Technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services.
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