Super Micro Computer (NASDAQ:SMCI) Earns Underperform Rating from Analysts at Bank of America

Bank of America started coverage on shares of Super Micro Computer (NASDAQ:SMCI - Free Report) in a report released on Wednesday, Marketbeat.com reports. The firm issued an underperform rating and a $35.00 target price on the stock.

A number of other research firms also recently commented on SMCI. Northland Securities set a $59.00 price target on shares of Super Micro Computer in a research report on Wednesday, May 7th. Wedbush restated a "buy" rating on shares of Super Micro Computer in a research report on Wednesday, June 25th. Barclays restated an "equal weight" rating and set a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday, May 6th. Mizuho lifted their price objective on shares of Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, The Goldman Sachs Group cut shares of Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $41.47.

Super Micro Computer Stock Performance

NASDAQ:SMCI traded down $1.12 during mid-day trading on Wednesday, hitting $49.24. The stock had a trading volume of 24,813,483 shares, compared to its average volume of 68,660,178. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 2.25 and a beta of 1.43. The company has a 50 day simple moving average of $42.91 and a 200-day simple moving average of $38.59. Super Micro Computer has a 52 week low of $17.25 and a 52 week high of $96.33. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38.

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

Insider Transactions at Super Micro Computer

In other news, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction that occurred 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 directly owned 88,599 shares of the company's stock, valued at $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Liang sold 300,000 shares of the business's 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 directly owned 66,903,640 shares in the company, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 667,000 shares of company stock valued at $29,949,340 over the last ninety days. Corporate insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Super Micro Computer by 3.9% in the first quarter. Vanguard Group Inc. now owns 64,407,769 shares of the company's stock valued at $2,205,322,000 after acquiring an additional 2,415,276 shares during the last quarter. Geode Capital Management LLC lifted its stake in Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after acquiring an additional 11,580,677 shares during the last quarter. FMR LLC acquired a new stake in Super Micro Computer in the fourth quarter valued at approximately $292,869,000. Invesco Ltd. lifted its stake in Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock valued at $149,287,000 after acquiring an additional 4,605,260 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.