Today, Super Micro Computer Inc. (SMCI) Upgraded to “Buy” at Zacks Investment Research

Today, Super Micro Computer Inc. (SMCI) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Super Micro Computer Inc. (NASDAQ:SMCI) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $26.00 price target on the stock.

According to Zacks, “Super Micro Computer, Inc. designs, develops, manufactures and sells energy-efficient, application optimized server solutions based on the x86 architecture. The Company’s solutions include a range of rack mount and blade server systems, as well as components. Supermicro emphasizes superior product design and uncompromising quality control to produce industry-leading serverboards, chassis and server systems. These Server Building Block Solutions provide benefits across many environments, including data center deployment, high-performance computing, high-end workstations, storage networks and standalone server installations. Super Micro Computer sells its server systems and components primarily through distributors, which include value-added resellers and system integrators, and to a lesser extent, to original equipment manufacturers (OEMs). Super Micro Computer, Inc. is headquartered in San Jose, California. “

SMCI has been the subject of a number of other research reports. TheStreet lowered shares of Super Micro Computer from a buy rating to a hold rating in a research note on Monday, August 22nd. Maxim Group upped their target price on shares of Super Micro Computer from $30.00 to $34.00 and gave the stock a buy rating in a research note on Friday, September 23rd. Stifel Nicolaus lowered shares of Super Micro Computer from a buy rating to a hold rating in a research note on Tuesday, July 19th. DA Davidson lowered shares of Super Micro Computer from a buy rating to a neutral rating and reduced their target price for the stock from $35.00 to $19.00 in a research note on Tuesday, July 19th. Finally, Needham & Company LLC reduced their target price on shares of Super Micro Computer from $31.00 to $25.00 and set a buy rating for the company in a research note on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $29.31.

Super Micro Computer (NASDAQ:SMCI) traded down 1.21% during mid-day trading on Wednesday, hitting $22.87. 105,559 shares of the stock were exchanged. The stock’s 50-day moving average is $22.16 and its 200 day moving average is $25.28. Super Micro Computer has a 52 week low of $18.60 and a 52 week high of $34.69. The company has a market capitalization of $1.11 billion, a PE ratio of 16.45 and a beta of 0.66.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $524.30 million for the quarter, compared to the consensus estimate of $599.48 million. Super Micro Computer had a net margin of 3.54% and a return on equity of 11.48%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts anticipate that Super Micro Computer will post $1.40 EPS for the current year.

In other Super Micro Computer news, CFO Howard Hideshima sold 20,312 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $21.65, for a total transaction of $439,754.80. Following the sale, the chief financial officer now directly owns 20,312 shares of the company’s stock, valued at $439,754.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Yih-Shyan Wally Liaw sold 20,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $21.51, for a total transaction of $430,200.00. Following the sale, the insider now directly owns 20,000 shares in the company, valued at $430,200. The disclosure for this sale can be found here. Company insiders own 24.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SMCI. FMR LLC increased its stake in Super Micro Computer by 17.9% in the second quarter. FMR LLC now owns 3,659,329 shares of the company’s stock valued at $90,934,000 after buying an additional 555,053 shares during the period. Lombardia Capital Partners LLC increased its stake in Super Micro Computer by 77.9% in the second quarter. Lombardia Capital Partners LLC now owns 613,935 shares of the company’s stock valued at $15,256,000 after buying an additional 268,880 shares during the period. Royce & Associates LP increased its stake in Super Micro Computer by 26.3% in the second quarter. Royce & Associates LP now owns 1,235,744 shares of the company’s stock valued at $30,708,000 after buying an additional 257,327 shares during the period. Glenmede Trust Co. NA increased its stake in Super Micro Computer by 24.8% in the second quarter. Glenmede Trust Co. NA now owns 1,258,353 shares of the company’s stock valued at $31,268,000 after buying an additional 249,910 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Super Micro Computer by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,243,630 shares of the company’s stock valued at $55,754,000 after buying an additional 184,131 shares during the period. 73.25% of the stock is currently owned by institutional investors and hedge funds.

About Super Micro Computer

Super Micro Computer, Inc offers server technology. The Company develops and provides end-to-end green computing solutions to the data center, cloud computing, enterprise information technology information technology (IT), big data, high performance computing (HPC) and embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.

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