Super Micro Computer’s (SMCI) Buy Rating Reaffirmed at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC reiterated their buy rating on shares of Super Micro Computer (NASDAQ:SMCI – Free Report) in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has a $39.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, February 11th. Mizuho set a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday. Rosenblatt Securities reduced their price target on Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $40.00 to $32.00 in a report on Monday, March 24th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.53.

View Our Latest Research Report on SMCI

Super Micro Computer Stock Performance

Shares of SMCI stock opened at $32.55 on Wednesday. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 16.34 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. Super Micro Computer has a 52 week low of $17.25 and a 52 week high of $101.40. The company has a 50-day simple moving average of $35.59 and a 200 day simple moving average of $35.44.

Super Micro Computer (NASDAQ:SMCI – Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, sell-side analysts predict that Super Micro Computer will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP George Kao sold 71,720 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares in the company, valued at approximately $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 in the last three months. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Super Micro Computer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its holdings in Super Micro Computer by 19.6% in the 1st quarter. Foundations Investment Advisors LLC now owns 38,583 shares of the company’s stock valued at $1,321,000 after buying an additional 6,314 shares during the last quarter. Mackenzie Financial Corp increased its position in Super Micro Computer by 13.0% in the 1st quarter. Mackenzie Financial Corp now owns 35,771 shares of the company’s stock valued at $1,225,000 after acquiring an additional 4,111 shares during the period. Prosperity Consulting Group LLC acquired a new position in Super Micro Computer in the 1st quarter valued at approximately $288,000. TCW Group Inc. bought a new position in shares of Super Micro Computer during the first quarter valued at $7,356,000. Finally, LPL Financial LLC lifted its holdings in shares of Super Micro Computer by 29.3% during the first quarter. LPL Financial LLC now owns 873,572 shares of the company’s stock worth $29,911,000 after purchasing an additional 197,967 shares during the period. 84.06% of the stock is currently owned by institutional investors.

About Super Micro Computer

(Get Free Report)

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.

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