Super Micro Computer, Inc. (SMCI) Cut to “Hold” at Zacks Investment Research
Super Micro Computer, Inc. (NASDAQ:SMCI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
Other equities research analysts have also issued research reports about the stock. Maxim Group reissued a “buy” rating and set a $43.00 price objective on shares of Super Micro Computer in a report on Friday, July 21st. ValuEngine raised shares of Super Micro Computer from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Stifel Nicolaus reissued a “hold” rating and set a $30.00 price objective on shares of Super Micro Computer in a report on Friday, July 14th. BidaskClub raised shares of Super Micro Computer from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, KeyCorp reissued a “hold” rating on shares of Super Micro Computer in a report on Friday, September 1st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Super Micro Computer currently has an average rating of “Hold” and an average price target of $28.38.
Shares of Super Micro Computer (NASDAQ:SMCI) opened at 23.00 on Thursday. The stock has a 50 day moving average of $24.71 and a 200-day moving average of $24.97. Super Micro Computer has a 52 week low of $20.42 and a 52 week high of $31.75. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 17.16 and a beta of 0.15.
Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Super Micro Computer had a net margin of 2.74% and a return on equity of 9.08%. The firm had revenue of $717.90 million for the quarter, compared to analyst estimates of $714.99 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue was up 36.9% on a year-over-year basis. Analysts expect that Super Micro Computer will post $1.98 earnings per share for the current year.
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In other news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $27.10, for a total value of $135,500.00. Following the transaction, the director now owns 245,000 shares of the company’s stock, valued at approximately $6,639,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC bought a new position in Super Micro Computer during the 2nd quarter worth approximately $202,000. The Manufacturers Life Insurance Company boosted its stake in Super Micro Computer by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,249 shares of the technology company’s stock worth $745,000 after acquiring an additional 118 shares during the last quarter. State Street Corp boosted its stake in Super Micro Computer by 4.1% during the 2nd quarter. State Street Corp now owns 965,582 shares of the technology company’s stock worth $23,802,000 after acquiring an additional 38,013 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Super Micro Computer by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 1,369,562 shares of the technology company’s stock worth $33,760,000 after acquiring an additional 41,972 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Super Micro Computer by 224.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 300,275 shares of the technology company’s stock worth $7,402,000 after acquiring an additional 207,714 shares during the last quarter. 77.39% of the stock is currently owned by institutional investors and hedge funds.
About Super Micro Computer
Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/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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