Super Micro Computer (NASDAQ:SMCI) Price Target Lowered to $50.00 at Rosenblatt Securities

Super Micro Computer (NASDAQ:SMCI) had its price target decreased by investment analysts at Rosenblatt Securities from $55.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 51.79% from the stock’s current price.

Several other brokerages have also recently issued reports on SMCI. The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $40.00 to $32.00 in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their price target on shares of Super Micro Computer from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, February 11th. Barclays reaffirmed an “equal weight” rating and set a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday. Finally, Wedbush reissued a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.40.

Super Micro Computer Price Performance

Shares of SMCI opened at $32.94 on Wednesday. The company has a market cap of $19.66 billion, a P/E ratio of 16.54 and a beta of 1.36. Super Micro Computer has a fifty-two week low of $17.25 and a fifty-two week high of $101.40. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $35.76 and its 200 day moving average price is $35.46.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, research analysts forecast that Super Micro Computer will post 1.86 earnings per share for the current fiscal year.

Insider Transactions at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the sale, the chief executive officer now directly owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,473 shares of company stock worth $6,771,552. Company insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently bought and sold shares of SMCI. Salem Investment Counselors Inc. purchased a new stake in shares of Super Micro Computer in the fourth quarter valued at about $30,000. Trust Co. of Vermont boosted its holdings in Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Super Micro Computer by 2,890.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC raised its stake in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Super Micro Computer in the 4th quarter valued at approximately $31,000. 84.06% of the stock is owned by institutional investors and hedge funds.

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.