Super Micro Computer (NASDAQ:SMCI) Coverage Initiated by Analysts at Needham & Company LLC

Investment analysts at Needham & Company LLC assumed coverage on shares of Super Micro Computer (NASDAQ:SMCI) in a research note issued on Wednesday, September 18th, MarketBeat reports. The firm set a “buy” rating and a $6.00 price target on the stock. Needham & Company LLC’s target price indicates a potential downside of 85.10% from the company’s previous close.

SMCI has been the subject of several other research reports. Nomura Securities downgraded shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Barclays lowered shares of Super Micro Computer from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $6.93 to $4.38 in a research note on Wednesday, September 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $13.00 target price on shares of Super Micro Computer in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $9.50 to $5.00 in a report on Friday, September 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Super Micro Computer from $7.75 to $6.75 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.26.

Super Micro Computer Price Performance

SMCI stock opened at $40.28 on Wednesday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 2.27 and a beta of 1.24. The business’s 50-day moving average is $14.21 and its two-hundred day moving average is $10.64. Super Micro Computer has a 1 year low of $22.66 and a 1 year high of $122.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Analysts anticipate that Super Micro Computer will post 28.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SMCI. Vanguard Group Inc. grew its position in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after acquiring an additional 1,265,542 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Super Micro Computer in the 1st quarter valued at approximately $1,325,466,000. Dimensional Fund Advisors LP increased its position in Super Micro Computer by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock worth $283,609,000 after purchasing an additional 2,011 shares in the last quarter. Norges Bank bought a new stake in shares of Super Micro Computer during the fourth quarter worth $95,211,000. Finally, Wolf Hill Capital Management LP acquired a new position in shares of Super Micro Computer during the fourth quarter worth $77,996,000. Institutional investors own 84.06% 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.