Barclays Cuts Super Micro Computer (NASDAQ:SMCI) Price Target to $42.00

Super Micro Computer (NASDAQ:SMCI) had its price target reduced by investment analysts at Barclays from $438.00 to $42.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 1.08% from the stock’s previous close.

Several other brokerages also recently weighed in on SMCI. JPMorgan Chase & Co. downgraded Super Micro Computer from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $9.50 to $5.00 in a research report on Friday, September 6th. Wells Fargo & Company decreased their target price on Super Micro Computer from $6.50 to $3.75 and set an “equal weight” rating for the company in a report on Wednesday, August 28th. Cfra restated a “hold” rating and set a $4.54 target price (down previously from $7.29) on shares of Super Micro Computer in a report on Wednesday, August 28th. Susquehanna upped their target price on Super Micro Computer from $2.85 to $3.25 and gave the company a “negative” rating in a report on Monday, July 15th. Finally, Rosenblatt Securities restated a “buy” rating and set a $13.00 target price on shares of Super Micro Computer in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.61.

Super Micro Computer Stock Performance

Shares of SMCI stock opened at $41.55 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. Super Micro Computer has a fifty-two week low of $22.66 and a fifty-two week high of $122.90. The stock has a 50 day moving average price of $15.60 and a two-hundred day moving average price of $11.07. The company has a market capitalization of $2.32 billion, a P/E ratio of 2.33 and a beta of 1.23.

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

Institutional Investors Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. grew its stake in Super Micro Computer by 400.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC purchased a new stake in shares of Super Micro Computer in the second quarter worth $25,000. Hazlett Burt & Watson Inc. grew its stake in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Super Micro Computer in the first quarter worth $35,000. Finally, VitalStone Financial LLC grew its stake in shares of Super Micro Computer by 250.0% in the first quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.