Super Micro Computer, Inc. (SMCI) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Super Micro Computer, Inc. (NASDAQ:SMCI) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

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 a number of other reports. Stifel Nicolaus reaffirmed a hold rating and issued a $30.00 price objective on shares of Super Micro Computer in a research note on Friday, July 14th. Citigroup Inc. reduced their price objective on shares of Super Micro Computer from $31.00 to $23.00 and set a neutral rating on the stock in a research note on Tuesday, September 19th. Susquehanna Bancshares Inc reaffirmed a positive rating and issued a $31.00 price objective (down from $33.00) on shares of Super Micro Computer in a research note on Sunday, July 23rd. BidaskClub raised shares of Super Micro Computer from a sell rating to a hold rating in a research note on Thursday, July 13th. Finally, ValuEngine cut shares of Super Micro Computer from a buy rating to a hold rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $28.38.

Shares of Super Micro Computer (NASDAQ SMCI) traded down 0.334% during midday trading on Wednesday, reaching $22.375. The company had a trading volume of 260,087 shares. The firm’s 50 day moving average price is $24.13 and its 200-day moving average price is $24.87. Super Micro Computer has a 12 month low of $20.42 and a 12 month high of $31.75. The company has a market capitalization of $1.09 billion, a P/E ratio of 16.698 and a beta of 0.15.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $714.99 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Super Micro Computer’s revenue was up 36.9% compared to the same quarter last year. Analysts anticipate that Super Micro Computer will post $1.98 earnings per share for the current fiscal year.

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In related news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $27.10, for a total transaction of $135,500.00. Following the sale, the director now directly owns 245,000 shares in the company, valued at $6,639,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of SMCI. BlackRock Inc. increased its stake in Super Micro Computer by 46,673.4% in the 1st quarter. BlackRock Inc. now owns 4,774,160 shares of the technology company’s stock valued at $121,025,000 after buying an additional 4,763,953 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Super Micro Computer by 17.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,309,877 shares of the technology company’s stock valued at $81,588,000 after buying an additional 482,667 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Super Micro Computer by 229.8% in the 1st quarter. Nuveen Asset Management LLC now owns 535,604 shares of the technology company’s stock valued at $13,578,000 after buying an additional 373,192 shares during the last quarter. Royce & Associates LP increased its stake in Super Micro Computer by 56.2% in the 2nd quarter. Royce & Associates LP now owns 737,292 shares of the technology company’s stock valued at $18,174,000 after buying an additional 265,164 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Super Micro Computer by 224.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 300,275 shares of the technology company’s stock valued at $7,402,000 after buying an additional 207,714 shares during the last quarter. Hedge funds and other institutional investors own 77.39% of the company’s stock.

Super Micro Computer Company Profile

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.

Analyst Recommendations for Super Micro Computer (NASDAQ:SMCI)

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