Super Micro Computer, Inc. (SMCI) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Super Micro Computer, Inc. (NASDAQ:SMCI) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $24.00 price target on the technology company’s stock.
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. “
A number of other research firms have also commented on SMCI. Stifel Nicolaus reaffirmed a hold rating and set a $30.00 price target on shares of Super Micro Computer in a research report on Friday, July 14th. Citigroup Inc. decreased their target price on Super Micro Computer from $31.00 to $23.00 and set a neutral rating for the company in a research report on Tuesday. Susquehanna Bancshares Inc reissued a positive rating and issued a $31.00 target price (down previously from $33.00) on shares of Super Micro Computer in a research report on Sunday, July 23rd. BidaskClub raised Super Micro Computer from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, ValuEngine lowered 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 given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $28.38.
Shares of Super Micro Computer (NASDAQ:SMCI) traded up 3.30% during trading on Thursday, hitting $21.90. The stock had a trading volume of 551,104 shares. The firm has a 50-day moving average price of $26.27 and a 200 day moving average price of $25.21. Super Micro Computer has a 52 week low of $20.42 and a 52 week high of $31.75. The company has a market capitalization of $1.07 billion, a PE ratio of 16.34 and a beta of 0.18.
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 analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $717.90 million during the quarter, compared to analyst estimates of $714.99 million. Super Micro Computer had a return on equity of 9.08% and a net margin of 2.74%. Super Micro Computer’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 EPS. Equities analysts anticipate that Super Micro Computer will post $1.98 earnings per share 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 that occurred on Thursday, August 17th. The stock was sold at an average price of $27.10, for a total value of $135,500.00. Following the completion of the transaction, the director now owns 245,000 shares of the company’s stock, valued at approximately $6,639,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of SMCI. Nationwide Fund Advisors grew its stake in shares of Super Micro Computer by 3.4% in the 1st quarter. Nationwide Fund Advisors now owns 94,748 shares of the technology company’s stock worth $2,402,000 after buying an additional 3,086 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Super Micro Computer by 103.4% in the 1st quarter. Russell Investments Group Ltd. now owns 95,236 shares of the technology company’s stock worth $2,414,000 after buying an additional 48,411 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Super Micro Computer by 7.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,495 shares of the technology company’s stock worth $1,328,000 after buying an additional 3,480 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Super Micro Computer by 21.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,858 shares of the technology company’s stock worth $757,000 after buying an additional 5,360 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Super Micro Computer by 2.6% in the 1st quarter. First Trust Advisors LP now owns 74,650 shares of the technology company’s stock worth $1,892,000 after buying an additional 1,899 shares during the last quarter. 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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