Zacks Investment Research Upgrades Super Micro Computer Inc. (SMCI) to Hold
Super Micro Computer Inc. (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other research analysts have also commented on SMCI. Needham & Company LLC dropped their price target on shares of Super Micro Computer from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. DA Davidson downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $35.00 to $19.00 in a report on Tuesday, July 19th. TheStreet downgraded shares of Super Micro Computer from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Roth Capital downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $40.00 to $22.50 in a report on Friday, August 5th. Finally, Susquehanna reaffirmed a “positive” rating and set a $33.00 price objective on shares of Super Micro Computer in a report on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.69.
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Shares of Super Micro Computer (NASDAQ:SMCI) opened at 22.12 on Wednesday. The company’s 50 day moving average is $21.55 and its 200-day moving average is $25.95. The company has a market cap of $1.08 billion, a P/E ratio of 15.91 and a beta of 0.74. Super Micro Computer has a 12 month low of $18.60 and a 12 month high of $34.69.
Super Micro Computer (NASDAQ:SMCI) last announced its quarterly 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 return on equity of 11.48% and a net margin of 3.54%. The business had revenue of $524.30 million for the quarter, compared to analyst estimates of $599.48 million. During the same quarter last year, the company earned $0.57 EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts expect that Super Micro Computer will post $1.37 EPS for the current fiscal year.
In other news, CFO Howard Hideshima sold 20,312 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $21.65, for a total transaction of $439,754.80. Following the completion of the transaction, the chief financial officer now directly owns 20,312 shares of the company’s stock, valued at approximately $439,754.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yih-Shyan Wally Liaw sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $21.51, for a total transaction of $430,200.00. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at $430,200. The disclosure for this sale can be found here. 24.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its stake in shares of Super Micro Computer by 28.3% in the first quarter. Prudential Financial Inc. now owns 108,403 shares of the company’s stock worth $3,694,000 after buying an additional 23,900 shares during the period. Apex Capital Management boosted its stake in shares of Super Micro Computer by 20.3% in the first quarter. Apex Capital Management now owns 291,219 shares of the company’s stock worth $9,925,000 after buying an additional 49,075 shares during the period. BlackRock Group LTD boosted its stake in shares of Super Micro Computer by 7.7% in the first quarter. BlackRock Group LTD now owns 36,464 shares of the company’s stock worth $1,242,000 after buying an additional 2,603 shares during the period. Algert Global LLC purchased a new stake in shares of Super Micro Computer during the first quarter worth about $489,000. Finally, HBK Investments L P purchased a new stake in shares of Super Micro Computer during the first quarter worth about $267,000. 73.25% of the stock is owned by institutional investors.
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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