Super Micro Computer (NASDAQ:SMCI) Now Covered by Bank of America

Stock analysts at Bank of America assumed coverage on shares of Super Micro Computer (NASDAQ:SMCI - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The brokerage set an "underperform" rating and a $35.00 price target on the stock. Bank of America's price target indicates a potential downside of 28.73% from the company's current price.

Several other equities analysts have also issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $39.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 7th. Wall Street Zen raised Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Citigroup began coverage on Super Micro Computer in a research note on Tuesday, May 6th. They issued a "neutral" rating and a $39.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, KGI Securities initiated coverage on Super Micro Computer in a report on Wednesday, May 7th. They issued a "neutral" rating for the company. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Super Micro Computer currently has a consensus rating of "Hold" and a consensus target price of $43.88.

Super Micro Computer Price Performance

SMCI opened at $49.11 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. Super Micro Computer has a 1 year low of $17.25 and a 1 year high of $96.33. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 25.83 and a beta of 1.43. The stock's 50 day simple moving average is $41.88 and its 200 day simple moving average is $38.26.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company's revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, analysts predict that Super Micro Computer will post 1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Super Micro Computer news, CEO Charles Liang sold 300,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the transaction, the chief executive officer owned 66,903,640 shares in the company, valued at $3,010,663,800. This represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the sale, the chief financial officer owned 88,599 shares in the company, valued at $3,900,127.98. This represents a 43.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 667,000 shares of company stock valued at $29,949,340 in the last three months. 17.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. acquired a new stake in Super Micro Computer in the first quarter worth $5,408,000. Gibraltar Capital Management Inc. bought a new position in shares of Super Micro Computer during the first quarter valued at about $205,000. Sequoia Financial Advisors LLC raised its position in Super Micro Computer by 43.2% in the first quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company's stock worth $659,000 after acquiring an additional 5,804 shares during the period. LPL Financial LLC raised its position in Super Micro Computer by 561.3% in the fourth quarter. LPL Financial LLC now owns 675,605 shares of the company's stock worth $20,592,000 after acquiring an additional 573,439 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Super Micro Computer in the fourth quarter worth about $1,176,000. Institutional investors own 84.06% of the company's stock.

Super Micro Computer Company Profile

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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