Super Micro Computer, Inc. (SMCI) Stock Rating Lowered by Zacks Investment Research
Super Micro Computer, Inc. (NASDAQ:SMCI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Super Micro Computer, Inc. designs, develops, manufactures and sells energy-efficient, application optimized server solutions based on the x86 architecture. The Company’s solutions include a range of rack mount and blade server systems, as well as components. Supermicro emphasizes superior product design and uncompromising quality control to produce industry-leading serverboards, chassis and server systems. These Server Building Block Solutions provide benefits across many environments, including data center deployment, high-performance computing, high-end workstations, storage networks and standalone server installations. Super Micro Computer sells its server systems and components primarily through distributors, which include value-added resellers and system integrators, and to a lesser extent, to original equipment manufacturers (OEMs). Super Micro Computer, Inc. is headquartered in San Jose, California. “
Other equities analysts also recently issued reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.00 price target on shares of Super Micro Computer in a research report on Friday, July 14th. Citigroup Inc. reduced their price target on Super Micro Computer from $31.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 19th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $31.00 price target (down from $33.00) on shares of Super Micro Computer in a research report on Sunday, July 23rd. BidaskClub raised Super Micro Computer from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, ValuEngine downgraded Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $28.38.
Shares of Super Micro Computer (SMCI) opened at 22.75 on Thursday. The stock has a 50 day moving average price of $24.47 and a 200-day moving average price of $24.93. Super Micro Computer has a 1-year low of $20.42 and a 1-year high of $31.75. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 16.98 and a beta of 0.15.
Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Super Micro Computer had a return on equity of 9.08% and a net margin of 2.74%. The company had revenue of $717.90 million during the quarter, compared to analyst estimates of $714.99 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 36.9% on a year-over-year basis. Equities research analysts forecast that Super Micro Computer will post $1.98 earnings per share for the current year.
In related news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $27.10, for a total transaction of $135,500.00. Following the completion of the transaction, the director now owns 245,000 shares in the company, valued at approximately $6,639,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Super Micro Computer by 46,673.4% during the 1st quarter. BlackRock Inc. now owns 4,774,160 shares of the technology company’s stock worth $121,025,000 after purchasing an additional 4,763,953 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,562,194 shares of the technology company’s stock worth $87,808,000 after purchasing an additional 69,229 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Super Micro Computer by 17.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,309,877 shares of the technology company’s stock worth $81,588,000 after purchasing an additional 482,667 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Super Micro Computer by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 1,369,562 shares of the technology company’s stock worth $33,760,000 after purchasing an additional 41,972 shares during the last quarter. Finally, State Street Corp raised its position in shares of Super Micro Computer by 4.1% during the 2nd quarter. State Street Corp now owns 965,582 shares of the technology company’s stock worth $23,802,000 after purchasing an additional 38,013 shares during the last quarter. Hedge funds and other institutional investors own 77.39% of the company’s stock.
Super Micro Computer Company Profile
Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.
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