Super Micro Computer (NASDAQ:SMCI) Receives Buy Rating from Needham & Company LLC

Super Micro Computer (NASDAQ:SMCI - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $39.00 price objective on the stock. Needham & Company LLC's target price indicates a potential upside of 25.75% from the stock's previous close.

A number of other analysts have also recently weighed in on the company. The Goldman Sachs Group cut Super Micro Computer from a "neutral" rating to a "sell" rating and cut their price target for the company from $40.00 to $32.00 in a research note on Monday, March 24th. Rosenblatt Securities reduced their price objective on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday. Cfra upgraded shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Tuesday, February 11th. Finally, Northland Securities set a $70.00 price target on shares of Super Micro Computer in a report on Thursday, March 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $46.93.

Super Micro Computer Stock Down 5.8 %

Shares of Super Micro Computer stock opened at $31.01 on Wednesday. The firm's 50 day moving average price is $35.76 and its 200-day moving average price is $35.46. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. 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 $18.51 billion, a P/E ratio of 15.50 and a beta of 1.36.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion during 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 firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, sell-side analysts predict that Super Micro Computer will post 1.86 EPS for the current fiscal year.

Insider Activity

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares of the company's stock, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the business's stock in a transaction on Friday, February 28th. The stock was 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 sold a total of 137,473 shares of company stock valued at $6,771,552 over the last three months. Insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer in the fourth quarter valued at approximately $30,000. Trust Co. of Vermont lifted its stake in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock worth $30,000 after purchasing an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Super Micro Computer by 2,890.9% during the 4th 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 last quarter. Larson Financial Group LLC boosted its stake in shares of Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after purchasing an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp purchased a new position in Super Micro Computer in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 84.06% 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.

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