Super Micro Computer Inc. (SMCI) Stock Rating Upgraded by Zacks Investment Research
Super Micro Computer Inc. (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $26.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.95% from the company’s previous close.
According to Zacks, “Super Micro Computer, Inc. designs, develops, manufactures and sells energy-efficient, application optimized server solutions based on the x86 architecture. The Company’s solutions include a range of rack mount and blade server systems, as well as components. Supermicro emphasizes superior product design and uncompromising quality control to produce industry-leading serverboards, chassis and server systems. These Server Building Block Solutions provide benefits across many environments, including data center deployment, high-performance computing, high-end workstations, storage networks and standalone server installations. Super Micro Computer sells its server systems and components primarily through distributors, which include value-added resellers and system integrators, and to a lesser extent, to original equipment manufacturers (OEMs). Super Micro Computer, Inc. is headquartered in San Jose, California. “
Several other analysts have also weighed in on SMCI. Maxim Group reiterated a “buy” rating and set a $42.00 target price (down from $46.00) on shares of Super Micro Computer in a research report on Monday, June 13th. Susquehanna reiterated a “positive” rating and set a $33.00 target price on shares of Super Micro Computer in a research report on Wednesday, July 6th. Stifel Nicolaus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. DA Davidson lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $19.00 in a research report on Tuesday, July 19th. Finally, Needham & Company LLC reduced their price target on shares of Super Micro Computer from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Super Micro Computer has a consensus rating of “Buy” and a consensus target price of $29.31.
Super Micro Computer (NASDAQ:SMCI) traded up 0.78% on Wednesday, hitting $23.20. 179,514 shares of the company were exchanged. The stock has a 50 day moving average price of $22.11 and a 200 day moving average price of $25.30. Super Micro Computer has a one year low of $18.60 and a one year high of $34.69. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 16.69 and a beta of 0.66.
Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Thursday, August 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.01. Super Micro Computer had a net margin of 3.54% and a return on equity of 11.48%. The business had revenue of $524.30 million for the quarter, compared to analyst estimates of $599.48 million. During the same quarter last year, the firm posted $0.57 earnings per share. Super Micro Computer’s revenue was down 8.6% on a year-over-year basis. On average, equities research analysts forecast that Super Micro Computer will post $1.40 EPS for the current fiscal year.
In other Super Micro Computer news, CFO Howard Hideshima sold 20,312 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $21.65, for a total value of $439,754.80. Following the completion of the transaction, the chief financial officer now directly owns 20,312 shares of the company’s stock, valued at $439,754.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Yih-Shyan Wally Liaw sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $21.51, for a total transaction of $430,200.00. Following the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at $430,200. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of SMCI. A.R.T. Advisors LLC acquired a new stake in Super Micro Computer during the first quarter worth $1,170,000. Springbok Capital Management LLC boosted its position in shares of Super Micro Computer by 55.0% in the first quarter. Springbok Capital Management LLC now owns 4,100 shares of the company’s stock worth $140,000 after buying an additional 1,454 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Super Micro Computer by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 34,190 shares of the company’s stock worth $1,165,000 after buying an additional 6,034 shares in the last quarter. HBK Investments L P purchased a new position in shares of Super Micro Computer during the first quarter worth about $267,000. Finally, Cupps Capital Management LLC purchased a new position in shares of Super Micro Computer during the first quarter worth about $4,845,000. 73.25% of the stock is owned by institutional investors and hedge funds.
Super Micro Computer Company Profile
Super Micro Computer, Inc offers server technology. The Company develops and provides end-to-end green computing solutions to the data center, cloud computing, enterprise information technology information technology (IT), big data, high performance computing (HPC) and embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.
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