Super Micro Computer (SMCI) Upgraded by Zacks Investment Research to Strong-Buy

Super Micro Computer (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm currently has a $24.00 target price on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 24.35% from the stock’s previous close.

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 equities research analysts also recently weighed in on the company. Maxim Group lifted their target price on Super Micro Computer from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. BidaskClub downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Wells Fargo & Co began coverage on Super Micro Computer in a report on Tuesday, November 14th. They issued a “market perform” rating and a $20.00 target price for the company. Finally, TheStreet downgraded Super Micro Computer from a “b-” rating to a “c” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Super Micro Computer presently has an average rating of “Hold” and a consensus price target of $28.75.

Shares of Super Micro Computer (SMCI) remained flat at $$19.30 during mid-day trading on Tuesday. The company had a trading volume of 140,681 shares, compared to its average volume of 551,696. The firm has a market capitalization of $1,003.08, a P/E ratio of 14.44, a P/E/G ratio of 1.24 and a beta of -0.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.34 and a quick ratio of 1.15. Super Micro Computer has a 1-year low of $17.70 and a 1-year high of $27.90.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Super Micro Computer by 214.0% during the first quarter. Barclays PLC now owns 3,912 shares of the technology company’s stock valued at $133,000 after buying an additional 2,666 shares during the last quarter. Springbok Capital Management LLC boosted its position in shares of Super Micro Computer by 55.0% during the first quarter. Springbok Capital Management LLC now owns 4,100 shares of the technology company’s stock valued at $140,000 after buying an additional 1,454 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Super Micro Computer by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 4,160 shares of the technology company’s stock valued at $105,000 after buying an additional 50 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $118,000. Finally, PineBridge Investments L.P. boosted its position in shares of Super Micro Computer by 5.2% during the second quarter. PineBridge Investments L.P. now owns 4,726 shares of the technology company’s stock valued at $118,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.

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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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