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.
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