Super Micro Computer (NASDAQ:SMCI) Issues Q4 Earnings Guidance

Super Micro Computer (NASDAQ:SMCI - Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.62-8.42 for the period, compared to the consensus earnings per share estimate of $7.13. The company issued revenue guidance of $5.1-5.5 billion, compared to the consensus revenue estimate of $4.86 billion. Super Micro Computer also updated its FY 2024 guidance to 23.290-24.090 EPS.

Analysts Set New Price Targets

A number of research firms have recently commented on SMCI. KeyCorp initiated coverage on shares of Super Micro Computer in a research report on Wednesday, April 24th. They set a sector weight rating on the stock. Bank of America upped their price target on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. Loop Capital increased their target price on shares of Super Micro Computer from $600.00 to $1,500.00 and gave the company a buy rating in a research report on Tuesday, April 16th. The Goldman Sachs Group began coverage on Super Micro Computer in a research note on Monday, March 4th. They set a neutral rating and a $941.00 price objective for the company. Finally, Northland Securities lifted their price target on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an outperform rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $970.62.

Super Micro Computer Stock Down 15.2 %

NASDAQ SMCI traded down $130.80 during trading hours on Wednesday, hitting $728.00. 5,375,074 shares of the company traded hands, compared to its average volume of 9,630,967. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.19 and a current ratio of 2.43. The stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 55.93, a P/E/G ratio of 0.79 and a beta of 1.28. The business's 50-day moving average is $952.07 and its 200-day moving average is $576.78. Super Micro Computer has a twelve month low of $101.71 and a twelve month high of $1,229.00.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings data on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts' consensus estimates of $4.94 by $0.65. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business posted $3.09 earnings per share. Super Micro Computer's quarterly revenue was up 103.0% on a year-over-year basis. Sell-side analysts anticipate that Super Micro Computer will post 20.24 earnings per share for the current year.

Insider Buying and Selling

In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the transaction, the director now directly owns 22,113 shares in the company, valued at approximately $19,326,319.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total value of $25,123,772.39. Following the sale, the senior vice president now directly owns 2,110 shares in the company, valued at approximately $1,845,342.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sherman Tuan sold 5,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the sale, the director now directly owns 22,113 shares of the company's stock, valued at approximately $19,326,319.74. The disclosure for this sale can be found here. Insiders have sold 34,027 shares of company stock worth $29,655,672 in the last quarter. Insiders own 17.60% of the company's stock.

About Super Micro Computer

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.