Super Micro Computer (NASDAQ:SMCI) Now Covered by Needham & Company LLC

Investment analysts at Needham & Company LLC initiated coverage on shares of Super Micro Computer (NASDAQ:SMCI) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 37.24% from the company’s current price.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities reissued a “buy” rating and issued a $1,300.00 price target on shares of Super Micro Computer in a research note on Wednesday, August 7th. Wells Fargo & Company cut their target price on Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Barclays lowered Super Micro Computer from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $693.00 to $438.00 in a research report on Wednesday, September 4th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and cut their price target for the company from $950.00 to $500.00 in a research report on Friday, September 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of Super Micro Computer from $775.00 to $675.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $756.88.

Super Micro Computer Trading Up 0.1 %

SMCI stock opened at $437.20 on Wednesday. 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 twelve month low of $226.59 and a twelve month high of $1,229.00. The company has a market cap of $24.45 billion, a P/E ratio of 24.51 and a beta of 1.24. The business has a fifty day moving average of $596.63 and a 200-day moving average of $793.39.

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

Super Micro Computer (NASDAQ:SMCI) 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 business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 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 142.9% compared to the same quarter last year. During the same period last year, the business posted $3.43 EPS. As a group, equities research analysts expect that Super Micro Computer will post 28.5 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

Large investors have recently modified their holdings of the company. Newbridge Financial Services Group Inc. grew its position in shares of Super Micro Computer by 10,050.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 406 shares of the company’s stock worth $333,000 after buying an additional 402 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Super Micro Computer during the second quarter valued at approximately $7,405,000. New Century Financial Group LLC bought a new stake in shares of Super Micro Computer during the 2nd quarter worth $344,000. Cetera Investment Advisers increased its holdings in Super Micro Computer by 24.5% during the second quarter. Cetera Investment Advisers now owns 34,324 shares of the company’s stock worth $28,123,000 after buying an additional 6,749 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $269,000. 84.06% of the stock is currently 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.