Super Micro Computer (NASDAQ:SMCI) Price Target Cut to $1,000.00

by · The Markets Daily

Super Micro Computer (NASDAQ:SMCI – Free Report) had its price target reduced by Loop Capital from $1,500.00 to $1,000.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Mizuho began coverage on shares of Super Micro Computer in a research report on Tuesday, September 17th. They set a neutral rating and a $450.00 price target for the company. Nomura cut shares of Super Micro Computer from a buy rating to a neutral rating and set a $930.00 price target for the company. in a research report on Wednesday, July 10th. Barclays downgraded Super Micro Computer from an overweight rating to an equal weight rating and dropped their target price for the stock from $693.00 to $438.00 in a report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on shares of Super Micro Computer from $650.00 to $375.00 and set an equal weight rating for the company in a report on Wednesday, August 28th. Finally, Bank of America downgraded shares of Super Micro Computer from a buy rating to a neutral rating and dropped their price target for the company from $1,090.00 to $700.00 in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Super Micro Computer has an average rating of Hold and an average target price of $725.63.

Get Our Latest Stock Report on SMCI

Super Micro Computer Stock Performance

Shares of SMCI stock opened at $402.40 on Monday. Super Micro Computer has a 12 month low of $226.59 and a 12 month high of $1,229.00. The stock has a market capitalization of $22.51 billion, a P/E ratio of 22.56 and a beta of 1.24. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $546.48 and its 200 day moving average is $767.70.

Shares of Super Micro Computer are scheduled to split before the market opens on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer’s revenue was up 142.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.43 earnings per share. On average, sell-side analysts anticipate that Super Micro Computer will post 28.5 earnings per share for the current year.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. boosted its stake in shares of Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC acquired a new stake in Super Micro Computer during the 2nd quarter worth $25,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Super Micro Computer in the 4th quarter valued at about $33,000. Hazlett Burt & Watson Inc. lifted its stake in Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the last quarter. Finally, Bank of New Hampshire acquired a new stake in Super Micro Computer during the 1st quarter worth $35,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

About Super Micro Computer

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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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