Super Micro Computer (NASDAQ:SMCI) Issues FY 2024 Earnings Guidance

Super Micro Computer (NASDAQ:SMCI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 23.290-24.090 for the period, compared to the consensus EPS estimate of 21.990. The company issued revenue guidance of $14.7 billion-$15.1 billion, compared to the consensus revenue estimate of $14.6 billion. Super Micro Computer also updated its FY24 guidance to $23.29-24.09 EPS.

Super Micro Computer Stock Down 15.2 %

SMCI traded down $130.80 during midday trading on Wednesday, hitting $728.00. 5,375,074 shares of the company’s stock traded hands, compared to its average volume of 9,630,967. The company has a market cap of $40.72 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.28. The stock’s fifty day simple moving average is $952.07 and its 200-day simple moving average is $576.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.19. Super Micro Computer has a one year low of $101.71 and a one year high of $1,229.00.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings results on Monday, January 29th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm posted $3.09 earnings per share. The company’s quarterly revenue was up 103.0% compared to the same quarter last year. As a group, equities analysts anticipate that Super Micro Computer will post 20.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SMCI. StockNews.com downgraded Super Micro Computer from a hold rating to a sell rating in a research note on Tuesday, April 23rd. Susquehanna raised their price target on shares of Super Micro Computer from $162.00 to $250.00 and gave the stock a negative rating in a research report on Tuesday, January 30th. Bank of America increased their target price on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Barclays boosted their price target on Super Micro Computer from $691.00 to $961.00 and gave the company an overweight rating in a research note on Tuesday, February 13th. Finally, Northland Securities lifted their price objective on Super Micro Computer from $925.00 to $1,300.00 and gave the stock an outperform rating in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer has an average rating of Hold and an average price target of $970.62.

Insider Activity at Super Micro Computer

In other news, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $540.00, for a total transaction of $162,000.00. Following the transaction, the director now owns 20,087 shares of the company’s stock, valued at $10,846,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total transaction of $162,000.00. Following the completion of the sale, the director now directly owns 20,087 shares of the company’s stock, valued at $10,846,980. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Don W. Clegg sold 28,727 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the transaction, the senior vice president now directly owns 2,110 shares in the company, valued at $1,845,342.70. The disclosure for this sale can be found here. Insiders sold a total of 34,027 shares of company stock valued at $29,655,672 over the last quarter. Corporate insiders own 17.60% 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.