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

Needham & Company LLC reiterated their buy rating on shares of Super Micro Computer (NASDAQ:SMCI) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have a $39.00 price target on the stock.

Several other equities analysts have also issued reports on SMCI. Mizuho set a $34.00 price target on shares of Super Micro Computer in a report on Tuesday. Citigroup began coverage on Super Micro Computer in a report on Tuesday. They issued a “neutral” rating and a $39.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $40.00 to $32.00 in a report on Monday, March 24th. Finally, Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.53.

Super Micro Computer Stock Down 0.3 %

NASDAQ:SMCI opened at $32.02 on Wednesday. The stock’s fifty day simple moving average is $35.37 and its 200-day simple moving average is $35.24. The firm has a market capitalization of $19.11 billion, a P/E ratio of 16.07 and a beta of 1.36. 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 12-month low of $17.25 and a 12-month high of $101.40.

Super Micro Computer (NASDAQ:SMCI) last posted its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $0.66 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities research analysts expect that Super Micro Computer will post 1.86 earnings per share for the current year.

Insider Transactions at Super Micro Computer

In other news, SVP George Kao sold 71,720 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction dated 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 have sold a total of 137,473 shares of company stock worth $6,771,552 in the last 90 days. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently made changes to their positions in SMCI. GAMMA Investing LLC raised its stake in Super Micro Computer by 1,160.6% in the 4th quarter. GAMMA Investing LLC now owns 6,341 shares of the company’s stock valued at $193,000 after acquiring an additional 5,838 shares during the period. Czech National Bank raised its position in shares of Super Micro Computer by 963.7% in the fourth quarter. Czech National Bank now owns 109,175 shares of the company’s stock valued at $3,328,000 after purchasing an additional 98,911 shares during the period. Brookstone Capital Management lifted its stake in shares of Super Micro Computer by 930.2% during the 4th quarter. Brookstone Capital Management now owns 6,995 shares of the company’s stock worth $213,000 after buying an additional 6,316 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Super Micro Computer during the 4th quarter worth about $43,000. Finally, Salem Investment Counselors Inc. acquired a new position in Super Micro Computer in the 4th quarter valued at about $30,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.