Citigroup Inc. Lowers Super Micro Computer, Inc. (SMCI) Price Target to $23.00
Super Micro Computer, Inc. (NASDAQ:SMCI) had its price objective decreased by Citigroup Inc. from $31.00 to $23.00 in a report released on Tuesday. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup Inc.’s target price suggests a potential upside of 10.31% from the company’s current price.
SMCI has been the topic of a number of other research reports. KeyCorp reaffirmed a “hold” rating on shares of Super Micro Computer in a research report on Friday, September 1st. Zacks Investment Research cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $30.00 target price on shares of Super Micro Computer in a research report on Friday, July 14th. Finally, ValuEngine cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.38.
Super Micro Computer (NASDAQ SMCI) opened at 20.85 on Tuesday. Super Micro Computer has a 1-year low of $20.42 and a 1-year high of $31.75. The company has a 50-day moving average of $26.27 and a 200 day moving average of $25.21. The stock has a market cap of $1.02 billion, a P/E ratio of 15.56 and a beta of 0.18.
Super Micro Computer (NASDAQ:SMCI) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ 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 company had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $714.99 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Super Micro Computer’s revenue for the quarter was up 36.9% compared to the same quarter last year. Analysts predict that Super Micro Computer will post $1.98 EPS for the current year.
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In other news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the stock in a transaction dated 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 owns 245,000 shares of the company’s stock, valued at $6,639,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in shares of Super Micro Computer by 3.0% during the first quarter. US Bancorp DE now owns 6,075 shares of the technology company’s stock worth $154,000 after buying an additional 176 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Super Micro Computer by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 7,471 shares of the technology company’s stock worth $184,000 after buying an additional 3,311 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Super Micro Computer by 10.9% during the first quarter. BNP Paribas Arbitrage SA now owns 7,695 shares of the technology company’s stock worth $195,000 after buying an additional 755 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Super Micro Computer during the first quarter worth approximately $207,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Super Micro Computer during the second quarter worth approximately $202,000. 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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