Needham & Company LLC Begins Coverage on Super Micro Computer (NASDAQ:SMCI)

by · The Cerbat Gem

Needham & Company LLC started coverage on shares of Super Micro Computer (NASDAQ:SMCI – Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $600.00 price objective on the stock.

Other analysts have also issued reports about the stock. Barclays lowered shares of Super Micro Computer from an overweight rating to an equal weight rating and cut their price target for the company from $693.00 to $438.00 in a research report on Wednesday, September 4th. Cfra restated a hold rating and set a $454.00 price target (down from $729.00) on shares of Super Micro Computer in a research report on Wednesday, August 28th. Wells Fargo & Company lowered their price objective on Super Micro Computer from $650.00 to $375.00 and set an equal weight rating for the company in a research report on Wednesday, August 28th. Rosenblatt Securities reissued a buy rating and set a $1,300.00 price objective on shares of Super Micro Computer in a research note on Wednesday, August 7th. Finally, Mizuho assumed coverage on shares of Super Micro Computer in a research note on Tuesday, September 17th. They issued a neutral rating and a $450.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer presently has an average rating of Hold and a consensus price target of $756.88.

View Our Latest Analysis on SMCI

Super Micro Computer Price Performance

Shares of NASDAQ:SMCI opened at $457.27 on Wednesday. The company’s fifty day moving average price is $578.53 and its 200-day moving average price is $786.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The firm has a market capitalization of $25.58 billion, a price-to-earnings ratio of 25.63 and a beta of 1.24. Super Micro Computer has a one year low of $226.59 and a one year high of $1,229.00.

Super Micro Computer’s stock is going to split on the morning of Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly created shares will be issued to shareholders after the market closes on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.63 by ($1.38). The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm’s quarterly revenue was up 142.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.43 EPS. On average, equities research analysts anticipate that Super Micro Computer will post 28.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently bought and sold shares of the stock. GQG Partners LLC bought a new stake in Super Micro Computer during the 1st quarter valued at approximately $1,325,466,000. Vanguard Group Inc. boosted its position in shares of Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares in the last quarter. Norges Bank purchased a new stake in Super Micro Computer in the fourth quarter worth $95,211,000. Wolf Hill Capital Management LP bought a new position in Super Micro Computer in the fourth quarter worth $77,996,000. Finally, American Century Companies Inc. lifted its position in Super Micro Computer by 511.9% during the second quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock valued at $108,035,000 after buying an additional 110,308 shares during the period. 84.06% of the stock is owned by institutional investors.

Super Micro Computer Company Profile

(Get Free Report)

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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