Super Micro Computer (NASDAQ:SMCI) Stock Price Up 1.4% – Still a Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 1.4% during mid-day trading on Monday . The company traded as high as $48.88 and last traded at $47.94. Approximately 13,789,809 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 80,817,891 shares. The stock had previously closed at $47.26.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on shares of Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $50.00 in a research note on Friday, September 6th. Barclays lowered their price objective on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Super Micro Computer in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.53.

Super Micro Computer Price Performance

The business has a fifty day moving average price of $47.88 and a 200 day moving average price of $69.56. 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 market capitalization of $2.54 billion, a price-to-earnings ratio of 2.53 and a beta of 1.23.

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

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Super Micro Computer during the 1st quarter worth $98,000. Vanguard Group Inc. boosted its holdings 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 stake in Super Micro Computer during the 1st quarter valued at approximately $1,423,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Super Micro Computer by 168.8% during the 1st 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 lifted its position 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 worth $56,420,000 after purchasing an additional 51,906 shares during the period. 84.06% of the stock is currently 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.