Super Micro Computer (NASDAQ:SMCI) Trading 2.8% Higher

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price traded up 2.8% during mid-day trading on Monday . The company traded as high as $483.46 and last traded at $470.14. 3,306,271 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 8,278,747 shares. The stock had previously closed at $457.27.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $1,090.00 to $700.00 in a research report 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 report on Wednesday, August 28th. Loop Capital decreased their target price on Super Micro Computer from $1,500.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. downgraded Super Micro Computer from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $950.00 to $500.00 in a research report on Friday, September 6th. Finally, Barclays lowered Super Micro Computer from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $693.00 to $438.00 in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $725.63.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a 50 day simple moving average of $578.53 and a 200-day simple moving average of $784.50. The stock has a market cap of $25.91 billion, a P/E ratio of 26.35 and a beta of 1.24.

Super Micro Computer’s stock is going to split on the morning of 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The firm’s revenue for the quarter was up 142.9% on a year-over-year basis. On average, equities analysts expect that Super Micro Computer, Inc. will post 28.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SMCI. Sound Income Strategies LLC grew its holdings in shares of Super Micro Computer by 14.4% during the 1st quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after acquiring an additional 13 shares during the period. Invst LLC grew its holdings in shares of Super Micro Computer by 4.3% during the 1st quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after acquiring an additional 14 shares during the period. Byrne Asset Management LLC grew its holdings in shares of Super Micro Computer by 10.4% during the 2nd quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after acquiring an additional 14 shares during the period. Versant Capital Management Inc grew its holdings in shares of Super Micro Computer by 42.9% during the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after acquiring an additional 15 shares during the period. Finally, TFC Financial Management Inc. boosted its position in shares of Super Micro Computer by 23.1% in the 1st quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock worth $81,000 after purchasing an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.