Super Micro Computer Rating Lowered to Hold at Stifel Nicolaus (SMCI)
Super Micro Computer (NASDAQ:SMCI) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Wednesday, TheFlyOnTheWall.com reports. They currently have a $14.00 price objective on the stock. Stifel Nicolaus’ price target indicates a potential downside of 1.13% from the stock’s previous close.
The analysts wrote, “As highlighted in our C3Q13 Preview published this morning (10/16), we are downgrading shares of Super Micro from Buy to Hold, as shares have eclipsed our $14/sh. target price and we believe now offer a more balanced risk/reward profile at current levels (now trading at ~10.7x P/E and ~5.4x EV/EBITDA our C2014 estimates). We maintain our September quarter estimates at $311.5M/$0.23 (street: $307.2M/$0.22) and in the high-end of $295M-$315M/$0.17-$0.23 guidance ahead of the company’s F1Q14 earnings release on 10/22 (AMC). We believe investors could gauge a potential read-through from Teradata’s negative pre-announcement earlier this week (10/14) as a result of weaker-than-expected Asia-Pac results – we highlight Asia-Pac at approximately 21% of Super Micro’s trailing-12 month revenue and targeted area of growth via new Taiwan facility.”
Separately, analysts at Needham & Company raised their price target on shares of Super Micro Computer from $13.00 to $15.00 in a research note to investors on Wednesday, August 7th. They now have a “buy” rating on the stock.
Shares of Super Micro Computer (NASDAQ:SMCI) traded down 2.68% during mid-day trading on Wednesday, hitting $13.78. The stock had a trading volume of 63,546 shares. Super Micro Computer has a 1-year low of $7.85 and a 1-year high of $14.48. The stock has a 50-day moving average of $13.4 and a 200-day moving average of $11.66. The company has a market cap of $588.4 million and a price-to-earnings ratio of 29.38.
Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.05. The company had revenue of $322.30 million for the quarter, compared to the consensus estimate of $305.38 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts predict that Super Micro Computer will post $1.10 earnings per share for the current fiscal year.
Super Micro Computer, Inc develops and provides end-to-end green computing solutions for Enterprise IT, Datacenter, Cloud Computing, High Performance Computing (NASDAQ:SMCI), and Embedded Systems globally.
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