Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Silver Lake Partners, a group of entities including SLTA V (GP), L.L.C., Silver Lake Technology Investors V, L.P., Silver Lake Partners V DE (AIV), L.P., and Silver Lake Technology Associates V, L.P., sold 595,372 shares of Dell Technologies Inc. (NASDAQ:DELL) Class C Common Stock on September 15, 2025. The sales were executed at a weighted average price ranging from $126.63 to $127.70, resulting in a total transaction value of $76.2 million. The transaction comes as Dell, currently valued at $87.6 billion, has seen its shares surge over 36% in the past six months, with InvestingPro data showing the stock trading near its Fair Value.
The shares were held indirectly through various entities, including SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P., and Silver Lake Technology Investors V, L.P.
On the same day, these entities also converted a total of 817,018 shares of Class B Common Stock into Class C Common Stock.
Additionally, on September 17, 2025, the reporting owners initiated in-kind distributions of shares of Class C Common Stock.
In other recent news, Dell Technologies reported significant revenue from its AI server segment, generating $8.2 billion in the July quarter and receiving new orders worth $5.6 billion. This performance has resulted in an AI backlog of $11.7 billion, prompting the company to revise its fiscal 2026 outlook for its Infrastructure Solutions Group to mid/high-20% growth and an overall revenue growth of 12% year-over-year. Meanwhile, TD Cowen has raised its price target for Dell to $130, citing strong demand for AI servers, while maintaining a Hold rating. Bernstein SocGen Group initiated coverage on Dell with an Outperform rating and a $175 price target, highlighting Dell’s strong execution and potential to gain market share. In corporate developments, Dell announced that Chief Financial Officer Yvonne McGill will step down effective September 9, 2025, after nearly 30 years with the company. David Kennedy, currently the senior vice president of Dell Global Business Operations, Finance, has been appointed as interim CFO. Kennedy, who has 27 years of experience at Dell, will assume the role while the company searches for a permanent successor. McGill will remain in an advisory role through the third quarter of fiscal 2026 to support the transition.
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