Super Micro Computer (NASDAQ:SMCI) Earns Buy Rating from Analysts at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC initiated coverage on shares of Super Micro Computer (NASDAQ:SMCI – Free Report) in a report published on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $600.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. Nomura lowered Super Micro Computer from a buy rating to a neutral rating and set a $930.00 price objective for the company. in a research note on Wednesday, July 10th. Nomura Securities downgraded Super Micro Computer from a strong-buy rating to a hold rating in a research report on Wednesday, July 10th. Bank of America cut shares of Super Micro Computer from a buy rating to a neutral rating and cut their price objective for the company from $1,090.00 to $700.00 in a research report on Wednesday, August 7th. Rosenblatt Securities restated a buy rating and issued a $1,300.00 target price on shares of Super Micro Computer in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. downgraded shares of Super Micro Computer from an overweight rating to a neutral rating and cut their price target for the company from $950.00 to $500.00 in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $756.88.

Check Out Our Latest Research Report on SMCI

Super Micro Computer Trading Up 4.6 %

Shares of Super Micro Computer stock opened at $457.27 on Wednesday. Super Micro Computer has a twelve month low of $226.59 and a twelve month high of $1,229.00. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $578.53 and a 200-day moving average price of $786.63. The firm has a market cap of $25.58 billion, a price-to-earnings ratio of 25.63 and a beta of 1.24.

Super Micro Computer shares are scheduled to split on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be distributed to shareholders after the market closes on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 EPS for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s quarterly revenue was up 142.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.43 earnings per share. Equities research analysts anticipate that Super Micro Computer will post 28.5 EPS for the current fiscal year.

Institutional Trading of Super Micro Computer

Institutional investors and hedge funds have recently made changes to their positions in the company. GQG Partners LLC purchased a new position in Super Micro Computer during the 1st quarter valued at about $1,325,466,000. Vanguard Group Inc. increased its holdings in Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after buying an additional 1,265,542 shares during the period. Norges Bank bought a new position in Super Micro Computer in the fourth quarter worth approximately $95,211,000. Wolf Hill Capital Management LP purchased a new stake in Super Micro Computer during the fourth quarter worth $77,996,000. Finally, American Century Companies Inc. boosted its position in Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after acquiring an additional 110,308 shares in the last quarter. 84.06% of the stock is currently owned by institutional investors.

About Super Micro Computer

(Get Free Report)

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.

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