Super Micro Computer (NASDAQ:SMCI) Cut to “Underweight” at JPMorgan Chase & Co.

Super Micro Computer (NASDAQ:SMCI) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They currently have a $23.00 target price on the stock, down from their prior target price of $50.00. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 16.97% from the company’s previous close.

A number of other analysts also recently commented on SMCI. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Super Micro Computer in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Super Micro Computer currently has an average rating of “Hold” and a consensus price target of $69.53.

Super Micro Computer Stock Up 6.4 %

SMCI stock opened at $27.70 on Wednesday. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $43.93 and its 200 day moving average price is $66.15. Super Micro Computer has a 52 week low of $23.90 and a 52 week high of $122.90. The company has a market cap of $15.49 billion, a P/E ratio of 13.91 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.14). The firm had revenue of $5.31 billion for 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%. Super Micro Computer’s revenue was up 142.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. On average, research analysts expect that Super Micro Computer will post 2.85 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. boosted its position in shares of Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after acquiring an additional 24 shares during the last quarter. Moser Wealth Advisors LLC purchased a new position in Super Micro Computer during the second quarter worth approximately $25,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of Super Micro Computer by 250.0% during the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after buying an additional 25 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Super Micro Computer during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Company Profile

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.