Super Micro Computer (NASDAQ:SMCI) Updates FY24 Earnings Guidance

Super Micro Computer (NASDAQ:SMCI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $23.29-24.09 for the period, compared to the consensus estimate of $21.85. The company issued revenue guidance of $14.7-15.1 billion, compared to the consensus revenue estimate of $14.58 billion. Super Micro Computer also updated its FY 2024 guidance to 23.290-24.090 EPS.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Loop Capital increased their price objective on Super Micro Computer from $600.00 to $1,500.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Northland Securities increased their price target on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the stock an outperform rating in a research note on Monday, March 25th. JPMorgan Chase & Co. began coverage on Super Micro Computer in a research report on Monday, March 25th. They issued an overweight rating and a $1,150.00 price target on the stock. Argus initiated coverage on Super Micro Computer in a research note on Wednesday, March 6th. They set a buy rating and a $1,350.00 price objective for the company. Finally, Wedbush lifted their price objective on Super Micro Computer from $530.00 to $800.00 and gave the stock a neutral rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $970.62.

Super Micro Computer Trading Down 15.2 %

Shares of SMCI traded down $130.80 during midday trading on Wednesday, hitting $728.00. The stock had a trading volume of 5,375,074 shares, compared to its average volume of 9,630,967. Super Micro Computer has a 1 year low of $101.71 and a 1 year high of $1,229.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.19. The stock’s 50 day moving average is $952.07 and its 200 day moving average is $576.78. The firm 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.

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

Insider Activity at Super Micro Computer

In related news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction dated 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 sale, the senior vice president now owns 2,110 shares in the company, valued at approximately $1,845,342.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the transaction, the director now directly owns 22,113 shares in the company, valued at $19,326,319.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 2,110 shares of the company’s stock, 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 worth $29,655,672 in the last quarter. 17.60% of the stock is owned by company insiders.

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.