Rosenblatt Securities Cuts Super Micro Computer (NASDAQ:SMCI) Price Target to $50.00

Super Micro Computer (NASDAQ:SMCI - Get Free Report) had its price objective reduced by investment analysts at Rosenblatt Securities from $55.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Rosenblatt Securities' price objective points to a potential upside of 53.70% from the stock's current price.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Super Micro Computer from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Citigroup assumed coverage on shares of Super Micro Computer in a research note on Tuesday. They issued a "neutral" rating and a $39.00 price objective for the company. StockNews.com upgraded Super Micro Computer to a "sell" rating in a report on Friday, February 28th. Barclays restated an "equal weight" rating and issued a $34.00 price target on shares of Super Micro Computer in a report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Super Micro Computer from $39.00 to $36.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and a consensus target price of $45.53.

Super Micro Computer Price Performance

Shares of SMCI traded up $0.42 during mid-day trading on Wednesday, hitting $32.53. 5,659,599 shares of the stock were exchanged, compared to its average volume of 71,512,841. The firm has a 50-day moving average of $35.51 and a two-hundred day moving average of $35.34. Super Micro Computer has a 52-week low of $17.25 and a 52-week high of $101.40. The company has a market cap of $19.41 billion, a PE ratio of 16.33 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, equities analysts predict that Super Micro Computer will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In other Super Micro Computer news, CEO Charles Liang sold 46,293 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total value of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares of the company's stock, valued at approximately $3,381,640,618.80. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock worth $6,771,552 in the last ninety days. 17.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Eastern Bank purchased a new position in Super Micro Computer during the 1st quarter worth approximately $29,000. Parkside Financial Bank & Trust lifted its position in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC boosted its holdings in Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after purchasing an additional 893 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of Super Micro Computer during the 4th quarter valued at about $30,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 900 shares during the period. 84.06% of the stock is 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.