Super Micro Computer (NASDAQ:SMCI) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Wednesday, Zacks.com reports.
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. "
Separately, Northland Securities increased their price objective on shares of Super Micro Computer from $50.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, August 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $48.75.
Super Micro Computer stock opened at $35.88 on Wednesday. Super Micro Computer has a 52-week low of $21.95 and a 52-week high of $40.71. The company's 50 day moving average is $36.91 and its two-hundred day moving average is $36.59. The company has a quick ratio of 0.85, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.82 billion, a PE ratio of 17.09 and a beta of 1.50.
Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Monday, August 9th. The company reported $0.81 EPS for the quarter, beating the Zacks' consensus estimate of $0.78 by $0.03. Super Micro Computer had a net margin of 3.14% and a return on equity of 10.74%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.02 billion. Super Micro Computer's quarterly revenue was up 19.4% on a year-over-year basis. On average, equities research analysts anticipate that Super Micro Computer will post 2.45 earnings per share for the current fiscal year.
In related news, Director Sherman Tuan sold 5,000 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $35.43, for a total value of $177,150.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.70% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in SMCI. Disciplined Growth Investors Inc. MN lifted its stake in shares of Super Micro Computer by 22.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,458,927 shares of the company's stock worth $156,865,000 after acquiring an additional 813,015 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Super Micro Computer by 106.1% in the second quarter. JPMorgan Chase & Co. now owns 611,674 shares of the company's stock valued at $21,519,000 after purchasing an additional 314,853 shares during the period. Wolf Hill Capital Management LP acquired a new stake in shares of Super Micro Computer in the second quarter valued at about $10,976,000. Pzena Investment Management LLC lifted its stake in shares of Super Micro Computer by 13.4% in the second quarter. Pzena Investment Management LLC now owns 1,410,241 shares of the company's stock valued at $49,612,000 after purchasing an additional 166,410 shares during the period. Finally, Hawk Ridge Capital Management LP lifted its stake in shares of Super Micro Computer by 7.2% in the first quarter. Hawk Ridge Capital Management LP now owns 1,841,861 shares of the company's stock valued at $71,943,000 after purchasing an additional 123,400 shares during the period. Institutional investors own 72.32% of the company's stock.
Super Micro Computer Company Profile
Super Micro Computer, Inc manufactures servers and other computer products. Its products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, networking, embedded, gaming, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack and server management.
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