Maxim Group Boosts Super Micro Computer Inc. (SMCI) Price Target to $34.00
Super Micro Computer Inc. (NASDAQ:SMCI) had its target price raised by Maxim Group from $30.00 to $34.00 in a research note issued on Friday. The firm presently has a “buy” rating on the stock. Maxim Group’s target price would suggest a potential upside of 49.25% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Roth Capital cut Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $22.50 in a report on Friday, August 5th. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective on shares of Super Micro Computer in a report on Friday, August 5th. Susquehanna restated a “positive” rating and set a $33.00 price objective on shares of Super Micro Computer in a report on Wednesday, July 6th. Zacks Investment Research cut Super Micro Computer from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 29th. Finally, Pacific Crest assumed coverage on Super Micro Computer in a report on Thursday, July 28th. They set a “sector weight” rating for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.69.
Shares of Super Micro Computer (NASDAQ:SMCI) opened at 22.78 on Friday. Super Micro Computer has a 12-month low of $18.60 and a 12-month high of $34.69. The firm has a market capitalization of $1.11 billion, a PE ratio of 16.39 and a beta of 0.74. The company’s 50-day moving average price is $21.66 and its 200-day moving average price is $25.90.
Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $599.48 million. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. Analysts anticipate that Super Micro Computer will post $1.37 EPS for the current year.
In other Super Micro Computer news, insider Yih-Shyan Wally Liaw sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $21.51, for a total transaction of $430,200.00. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $430,200. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Howard Hideshima sold 20,312 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 20,312 shares of the company’s stock, valued at $439,754.80. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PineBridge Investments L.P. increased its position in shares of Super Micro Computer by 5.2% in the second quarter. PineBridge Investments L.P. now owns 4,726 shares of the company’s stock valued at $118,000 after buying an additional 233 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Super Micro Computer by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,331 shares of the company’s stock valued at $132,000 after buying an additional 644 shares during the period. Springbok Capital Management LLC increased 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 valued at $140,000 after buying an additional 1,454 shares during the period. Mason Street Advisors LLC bought a new position in shares of Super Micro Computer during the second quarter valued at about $181,000. Finally, Origin Asset Management LLP bought a new position in shares of Super Micro Computer during the first quarter valued at about $204,000. Institutional investors and hedge funds own 73.25% of the company’s stock.
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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