Super Micro Computer Inc. (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $26.00 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.95% from the stock’s current price.
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. “
SMCI has been the topic of several other reports. TheStreet downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Maxim Group raised their price target on shares of Super Micro Computer from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Stifel Nicolaus lowered shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. DA Davidson lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $19.00 in a report on Tuesday, July 19th. Finally, Needham & Company LLC lowered their price target on shares of Super Micro Computer from $31.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Super Micro Computer has a consensus rating of “Buy” and an average price target of $29.31.
Shares of Super Micro Computer (NASDAQ:SMCI) traded up 0.78% on Wednesday, reaching $23.20. 179,514 shares of the company traded hands. The company has a market capitalization of $1.13 billion, a PE ratio of 16.69 and a beta of 0.66. Super Micro Computer has a one year low of $18.60 and a one year high of $34.69. The firm has a 50-day moving average price of $22.11 and a 200 day moving average price of $25.30.
Super Micro Computer (NASDAQ:SMCI) last posted its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by $0.01. Super Micro Computer had a return on equity of 11.48% and a net margin of 3.54%. The business had revenue of $524.30 million for the quarter, compared to analyst estimates of $599.48 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. Equities analysts forecast that Super Micro Computer will post $1.40 EPS for the current fiscal year.
In related news, insider Yih-Shyan Wally Liaw sold 20,000 shares of Super Micro Computer stock in a transaction on Friday, August 26th. The shares were sold at an average price of $21.51, for a total value of $430,200.00. Following the completion of the sale, the insider now owns 20,000 shares of the company’s stock, valued at approximately $430,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Howard Hideshima sold 20,312 shares of Super Micro Computer stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $21.65, for a total transaction of $439,754.80. Following the completion of the sale, the chief financial officer now directly owns 20,312 shares of the company’s stock, valued at approximately $439,754.80. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new stake in Super Micro Computer during the first quarter valued at about $1,170,000. Springbok Capital Management LLC increased its stake in Super Micro Computer by 55.0% in the first quarter. Springbok Capital Management LLC now owns 4,100 shares of the company’s stock valued at $140,000 after buying an additional 1,454 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Super Micro Computer by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 34,190 shares of the company’s stock valued at $1,165,000 after buying an additional 6,034 shares during the last quarter. HBK Investments L P acquired a new stake in Super Micro Computer during the first quarter valued at about $267,000. Finally, Cupps Capital Management LLC acquired a new stake in Super Micro Computer during the first quarter valued at 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Super Micro Computer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Super Micro Computer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.