Maxim Group reiterated their buy rating on shares of Super Micro Computer, Inc. (NASDAQ:SMCI) in a research note released on Friday, July 21st. Maxim Group currently has a $43.00 price objective on the technology company’s stock.
“Revenue upside indicative of strong & sustaining demand that is likely independent of temporal EPS downside. Reiterating Buy rating and 12-month price target of $43.”,” the firm’s analyst commented.
SMCI has been the subject of a number of other research reports. ValuEngine raised shares of Super Micro Computer from a hold rating to a buy rating in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Super Micro Computer from a hold rating to a sell rating in a research note on Thursday, June 29th. Finally, Stifel Nicolaus reissued a hold rating and set a $30.00 target price on shares of Super Micro Computer in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Super Micro Computer currently has a consensus rating of Buy and a consensus target price of $31.29.
Shares of Super Micro Computer (NASDAQ:SMCI) opened at 26.55 on Friday. The firm’s 50 day moving average is $25.78 and its 200-day moving average is $25.34. The firm has a market capitalization of $1.30 billion, a PE ratio of 19.81 and a beta of 0.17. Super Micro Computer has a 12 month low of $20.77 and a 12 month high of $31.75.
Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. Super Micro Computer had a net margin of 2.74% and a return on equity of 9.08%. The company had revenue of $717.90 million during the quarter, compared to the consensus estimate of $714.99 million. During the same quarter in the prior year, the company posted $0.20 EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, analysts expect that Super Micro Computer will post $1.98 EPS for the current fiscal year.
In related news, Director Sherman Tuan sold 10,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $24.51, for a total value of $245,100.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at approximately $196,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Cheng-Hsien Phidias Chou sold 2,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $24.35, for a total value of $48,700.00. Following the completion of the transaction, the vice president now owns 3,137 shares of the company’s stock, valued at approximately $76,385.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $487,510. 23.60% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in SMCI. Norges Bank bought a new position in Super Micro Computer during the fourth quarter worth $11,432,000. Philadelphia Trust Co. raised its position in Super Micro Computer by 5.7% in the fourth quarter. Philadelphia Trust Co. now owns 91,550 shares of the technology company’s stock worth $2,568,000 after buying an additional 4,950 shares during the period. Macquarie Group Ltd. raised its position in Super Micro Computer by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,286,340 shares of the technology company’s stock worth $36,082,000 after buying an additional 8,106 shares during the period. Karp Capital Management Corp bought a new position in Super Micro Computer during the first quarter worth $207,000. Finally, Pacific Ridge Capital Partners LLC raised its position in Super Micro Computer by 61.3% in the first quarter. Pacific Ridge Capital Partners LLC now owns 74,420 shares of the technology company’s stock worth $1,887,000 after buying an additional 28,280 shares during the period. Institutional investors and hedge funds own 71.58% of the company’s stock.
About Super Micro Computer
Super Micro Computer, Inc is engaged in developing and providing end-to-end green computing solutions to the cloud computing, data center, enterprise information technology (IT), big data, high performance computing (HPC) and Internet of Things (IoT)/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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