Zacks Investment Research Upgrades Super Micro Computer Inc. (SMCI) to “Buy”
Super Micro Computer Inc. (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $26.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.29% from the company’s previous close.
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 subject of several other research reports. TheStreet downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research note on Monday, August 22nd. Maxim Group upped their price target on shares of Super Micro Computer from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, September 23rd. Stifel Nicolaus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. DA Davidson cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the company from $35.00 to $19.00 in a report on Tuesday, July 19th. Finally, Needham & Company LLC reduced 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.31.
Super Micro Computer (NASDAQ:SMCI) opened at 22.95 on Wednesday. Super Micro Computer has a one year low of $18.60 and a one year high of $34.69. The company has a 50-day moving average of $22.20 and a 200 day moving average of $25.27. The company has a market cap of $1.12 billion, a P/E ratio of 16.51 and a beta of 0.66.
Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Super Micro Computer had a net margin of 3.54% and a return on equity of 11.48%. The firm earned $524.30 million during the quarter, compared to the consensus estimate of $599.48 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts predict that Super Micro Computer will post $1.40 EPS for the current year.
In related news, insider Yih-Shyan Wally Liaw sold 20,000 shares of the stock in a transaction 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 owns 20,000 shares in the company, valued at $430,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Hideshima sold 20,312 shares of the stock in a transaction on Wednesday, August 31st. The stock was 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 approximately $439,754.80. The disclosure for this sale can be found here. Corporate insiders own 24.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Super Micro Computer by 17.9% in the second quarter. FMR LLC now owns 3,659,329 shares of the company’s stock worth $90,934,000 after buying an additional 555,053 shares during the period. Vanguard Group Inc. increased its position in shares of Super Micro Computer by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,326,891 shares of the company’s stock worth $82,673,000 after buying an additional 79,988 shares during the period. BlackRock Fund Advisors increased its position in shares of Super Micro Computer by 5.3% in the second quarter. BlackRock Fund Advisors now owns 2,437,455 shares of the company’s stock worth $60,571,000 after buying an additional 123,632 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Super Micro Computer by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,243,630 shares of the company’s stock worth $55,754,000 after buying an additional 184,131 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Super Micro Computer by 0.8% in the second quarter. Macquarie Group Ltd. now owns 1,287,490 shares of the company’s stock worth $31,994,000 after buying an additional 10,035 shares during the period. 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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