Super Micro Computer (NASDAQ:SMCI) Trading Up 2.3%

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were up 2.3% during mid-day trading on Tuesday . The stock traded as high as $464.40 and last traded at $447.83. Approximately 4,598,495 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 8,435,707 shares. The stock had previously closed at $437.70.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMCI. Nomura downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 target price for the company. in a report on Wednesday, July 10th. Wedbush restated a “neutral” rating and set a $800.00 target price on shares of Super Micro Computer in a research report on Friday, August 2nd. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and cut their price target for the company from $1,090.00 to $700.00 in a research note on Wednesday, August 7th. Barclays lowered Super Micro Computer from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $693.00 to $438.00 in a research note on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,300.00 price objective on shares of Super Micro Computer in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $822.14.

Super Micro Computer Stock Down 2.1 %

The company has a market cap of $23.19 billion, a price-to-earnings ratio of 23.54 and a beta of 1.24. The stock’s 50-day moving average is $682.65 and its 200-day moving average is $822.63. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

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

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing the consensus estimate of $7.63 by ($1.38). The firm had revenue of $5.31 billion for 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%. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same period last year, the company posted $3.43 earnings per share. On average, analysts anticipate that Super Micro Computer, Inc. will post 28.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Super Micro Computer by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after acquiring an additional 1,265,542 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Super Micro Computer during the 1st quarter valued at about $1,325,466,000. Dimensional Fund Advisors LP raised its holdings in shares of Super Micro Computer by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after purchasing an additional 2,011 shares during the last quarter. Norges Bank bought a new position in Super Micro Computer during the fourth quarter valued at approximately $95,211,000. Finally, Principal Financial Group Inc. boosted its position in Super Micro Computer by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 326,359 shares of the company’s stock worth $92,771,000 after purchasing an additional 14,959 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

About Super Micro Computer

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.