DA Davidson Upgrades Super Micro Computer Inc. (SMCI) to Buy
Super Micro Computer Inc. (NASDAQ:SMCI) was upgraded by DA Davidson to a “buy” rating in a research report issued on Wednesday.
Several other research analysts have also commented on the stock. Zacks Investment Research raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, October 5th. Roth Capital downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $22.50 in a research report on Friday, August 5th. TheStreet downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Monday, August 22nd. Maxim Group lifted their target price on Super Micro Computer from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Super Micro Computer in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Super Micro Computer currently has an average rating of “Buy” and a consensus price target of $29.50.
Shares of Super Micro Computer (NASDAQ:SMCI) opened at 26.10 on Wednesday. Super Micro Computer has a 12 month low of $18.60 and a 12 month high of $34.69. The company’s 50-day moving average is $23.56 and its 200 day moving average is $23.45. The stock has a market capitalization of $1.25 billion, a P/E ratio of 18.91 and a beta of 0.29.
Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.19 by $0.13. The company earned $529 million during the quarter, compared to analyst estimates of $503.64 million. Super Micro Computer had a net margin of 3.23% and a return on equity of 10.15%. Super Micro Computer’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities research analysts predict that Super Micro Computer will post $1.57 earnings per share for the current year.
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In related news, Director Hwei-Ming Fred Tsai sold 5,000 shares of Super Micro Computer stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $25.75, for a total value of $128,750.00. Following the completion of the sale, the director now directly owns 261,000 shares in the company, valued at $6,720,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD purchased a new stake in Super Micro Computer during the third quarter valued at $472,000. Cornerstone Capital Management Holdings LLC. increased its stake in Super Micro Computer by 252.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 206,000 shares of the company’s stock valued at $4,813,000 after buying an additional 147,500 shares during the last quarter. Fairfield Bush & CO. increased its stake in Super Micro Computer by 1.7% in the third quarter. Fairfield Bush & CO. now owns 222,252 shares of the company’s stock valued at $5,194,000 after buying an additional 3,700 shares during the last quarter. Clinton Group Inc. increased its stake in Super Micro Computer by 345.1% in the third quarter. Clinton Group Inc. now owns 36,542 shares of the company’s stock valued at $854,000 after buying an additional 28,332 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Super Micro Computer during the third quarter valued at $619,000. Hedge funds and other institutional investors own 70.26% 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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