Super Micro Computer (NASDAQ:SMCI) Given New $45.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its price target for Super Micro Computer from $46.00 to $45.00, maintaining a "neutral" rating, which indicates a potential downside of 3.83% from the current stock price.
• Analysts' consensus rating for Super Micro Computer is currently a "Hold" with a consensus price target of $43.96, while some firms have varying views on the stock, with Needham & Company setting a higher target of $60.00 and giving it a "buy" rating.
• After a recent drop of 18.3% in stock value, Super Micro Computer reported quarterly earnings of $0.41 EPS, missing analyst estimates, though revenue increased 8.5% year-over-year.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $46.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential downside of 3.83% from the stock's current price.

A number of other research firms also recently commented on SMCI. Needham & Company LLC increased their target price on Super Micro Computer from $39.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday. KGI Securities initiated coverage on Super Micro Computer in a report on Wednesday, May 7th. They set a "neutral" rating on the stock. Mizuho increased their target price on Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Bank of America assumed coverage on Super Micro Computer in a report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price target on the stock. Finally, Raymond James Financial assumed coverage on Super Micro Computer in a report on Wednesday, June 25th. They issued an "outperform" rating on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.96.

Super Micro Computer Stock Down 18.3%

SMCI traded down $10.47 on Wednesday, reaching $46.79. The company's stock had a trading volume of 114,843,986 shares, compared to its average volume of 57,346,375. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.83 and a beta of 1.46. Super Micro Computer has a 1 year low of $17.25 and a 1 year high of $66.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The business's 50 day moving average is $48.30 and its 200 day moving average is $41.28.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). The business had revenue of $5.76 billion during the quarter, compared to analysts' expectations of $5.88 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The company's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.25 EPS. As a group, research analysts forecast that Super Micro Computer will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In other Super Micro Computer news, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of Super Micro Computer stock in a transaction on Monday, July 28th. The stock was sold at an average price of $60.00, for a total transaction of $12,000,000.00. Following the sale, the director owned 40,426,120 shares of the company's stock, valued at $2,425,567,200. The trade was a 0.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the transaction, the chief financial officer owned 88,599 shares in the company, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,067,000 shares of company stock valued at $53,949,340 in the last quarter. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently modified their holdings of SMCI. FMR LLC acquired a new position in shares of Super Micro Computer during the 4th quarter valued at $292,869,000. Invesco Ltd. grew its holdings in shares of Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock worth $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock worth $149,287,000 after acquiring an additional 4,605,260 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Super Micro Computer by 416,945.0% in the 4th quarter. Marshall Wace LLP now owns 3,753,405 shares of the company's stock worth $114,404,000 after acquiring an additional 3,752,505 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Super Micro Computer by 649.5% in the 4th quarter. Legal & General Group Plc now owns 3,739,323 shares of the company's stock worth $113,975,000 after acquiring an additional 3,240,401 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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