Super Micro Computer, Inc. (NASDAQ:SMCI) Upgraded to “Hold” at Zacks Investment Research


Zacks Investment Research upgraded shares of Super Micro Computer, Inc. (NASDAQ:SMCI) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

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 equities research analysts have also weighed in on SMCI. Maxim Group reiterated a buy rating and set a $43.00 price objective (up previously from $40.00) on shares of Super Micro Computer in a research note on Friday, April 28th. BidaskClub upgraded shares of Super Micro Computer from a sell rating to a hold rating in a research note on Tuesday, June 13th. Stifel Nicolaus reiterated a hold rating and set a $30.00 price objective on shares of Super Micro Computer in a research note on Friday, July 14th. ValuEngine upgraded shares of Super Micro Computer from a hold rating to a buy rating in a research note on Wednesday, July 19th. Finally, Susquehanna Bancshares Inc reiterated a positive rating and set a $31.00 price objective (down previously from $33.00) on shares of Super Micro Computer in a research note on Sunday, July 23rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Super Micro Computer currently has an average rating of Buy and a consensus price target of $31.29.

Shares of Super Micro Computer (SMCI) opened at 27.35 on Friday. The firm has a market cap of $1.33 billion, a PE ratio of 20.41 and a beta of 0.17. Super Micro Computer has a 52-week low of $20.77 and a 52-week high of $31.75. The stock’s 50 day moving average price is $25.93 and its 200-day moving average price is $25.29.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Super Micro Computer had a net margin of 2.74% and a return on equity of 9.08%. The business had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $714.99 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, equities research analysts anticipate that Super Micro Computer will post $1.98 earnings per share for the current fiscal year.

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In other Super Micro Computer news, Director Sherman Tuan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $24.51, for a total value of $245,100.00. Following the sale, the director now owns 8,000 shares in the company, valued at $196,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hwei-Ming Fred Tsai sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $24.10, for a total transaction of $144,600.00. Following the completion of the sale, the director now owns 254,000 shares in the company, valued at approximately $6,121,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,000 shares of company stock worth $487,510. 24.00% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Super Micro Computer by 46,673.4% in the first quarter. BlackRock Inc. now owns 4,774,160 shares of the technology company’s stock valued at $121,025,000 after buying an additional 4,763,953 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Super Micro Computer by 2.0% in the second quarter. Vanguard Group Inc. now owns 3,562,194 shares of the technology company’s stock valued at $87,808,000 after buying an additional 69,229 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Super Micro Computer by 17.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,309,877 shares of the technology company’s stock valued at $81,588,000 after buying an additional 482,667 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Super Micro Computer by 3.2% in the second quarter. Macquarie Group Ltd. now owns 1,369,562 shares of the technology company’s stock valued at $33,760,000 after buying an additional 41,972 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Super Micro Computer by 4.1% in the second quarter. State Street Corp now owns 965,582 shares of the technology company’s stock valued at $23,802,000 after buying an additional 38,013 shares during the last quarter. Institutional investors own 72.25% of the company’s stock.

About Super Micro Computer

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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