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

Super Micro Computer (NASDAQ:SMCI) had its target price lowered by analysts at Rosenblatt Securities from $55.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target suggests a potential upside of 51.79% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. The Goldman Sachs Group cut Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price target for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Wedbush restated a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a report on Thursday, March 6th. Citigroup assumed coverage on shares of Super Micro Computer in a research note on Tuesday. They set a “neutral” rating and a $39.00 price objective for the company. Finally, Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Super Micro Computer has an average rating of “Hold” and an average target price of $48.40.

Super Micro Computer Trading Up 2.4 %

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

Super Micro Computer (NASDAQ:SMCI) last announced 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. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that Super Micro Computer will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In related news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares in the company, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the company’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 transaction of $828,606.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares during the period. Geode Capital Management LLC raised its position in Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC acquired a new position in shares of Super Micro Computer during the fourth quarter worth about $292,869,000. Invesco Ltd. boosted its position in shares of Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after buying an additional 6,810,082 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after buying an additional 4,605,260 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.