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

Research analysts at Needham & Company LLC began coverage on shares of Super Micro Computer (NASDAQ:SMCI) in a note issued to investors on Wednesday, Benzinga reports. The firm set a “buy” rating and a $600.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 36.56% from the stock’s current price.

Several other equities research analysts have also weighed in on SMCI. Barclays lowered shares of Super Micro Computer from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $693.00 to $438.00 in a report on Wednesday, September 4th. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $1,090.00 to $700.00 in a research note on Wednesday, August 7th. Cfra reissued a “hold” rating and issued a $454.00 target price (down from $729.00) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Nomura Securities downgraded Super Micro Computer from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company cut their price objective on Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer presently has an average rating of “Hold” and a consensus target price of $756.88.

Super Micro Computer Stock Performance

Shares of Super Micro Computer stock opened at $439.38 on Wednesday. The firm has a fifty day moving average of $605.89 and a two-hundred day moving average of $795.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 24.63 and a beta of 1.24. Super Micro Computer has a 52 week low of $226.59 and a 52 week high of $1,229.00.

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

Super Micro Computer (NASDAQ:SMCI) last posted 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 company had revenue of $5.31 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 142.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.43 earnings per share. As a group, equities research analysts predict that Super Micro Computer will post 28.5 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GQG Partners LLC acquired a new position in shares of Super Micro Computer during the 1st quarter worth about $1,325,466,000. Vanguard Group Inc. boosted its position in Super Micro Computer by 25.7% during the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after purchasing an additional 1,265,542 shares during the last quarter. Norges Bank bought a new position in Super Micro Computer in the fourth quarter valued at approximately $95,211,000. Wolf Hill Capital Management LP bought a new position in Super Micro Computer in the fourth quarter valued at approximately $77,996,000. Finally, American Century Companies Inc. increased its position in shares of Super Micro Computer by 511.9% during the 2nd quarter. American Century Companies Inc. now owns 131,855 shares of the company’s stock worth $108,035,000 after purchasing an additional 110,308 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.