Super Micro Computer (NASDAQ:SMCI) Downgraded by StockNews.com to “Sell”

Super Micro Computer (NASDAQ:SMCI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other equities research analysts have also commented on SMCI. Cfra restated a “hold” rating and set a $45.40 price objective (down from $72.90) on shares of Super Micro Computer in a report on Wednesday, August 28th. Needham & Company LLC initiated coverage on Super Micro Computer in a report on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. Loop Capital decreased their price objective on Super Micro Computer from $150.00 to $100.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Wells Fargo & Company dropped their target price on Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Finally, Bank of America downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $72.45.

Super Micro Computer Price Performance

Shares of SMCI stock opened at $45.35 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. Super Micro Computer has a 12-month low of $22.66 and a 12-month high of $122.90. The firm has a fifty day moving average of $8.91 and a 200-day moving average of $8.72. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 2.54 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.14). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue was up 142.9% compared to the same quarter last year. On average, equities research analysts forecast that Super Micro Computer will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Acadian Asset Management LLC acquired a new stake in Super Micro Computer during the first quarter worth about $98,000. Vanguard Group Inc. increased its stake in Super Micro Computer by 25.7% in the first quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock valued at $6,256,739,000 after acquiring an additional 1,265,542 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in Super Micro Computer during the first quarter valued at approximately $1,423,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Super Micro Computer by 168.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 58,592 shares of the company’s stock worth $59,180,000 after purchasing an additional 36,795 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Super Micro Computer by 1,516.8% in the 1st quarter. Nordea Investment Management AB now owns 55,328 shares of the company’s stock valued at $56,420,000 after purchasing an additional 51,906 shares in the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

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.