Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report)’s share price gapped down before the market opened on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $67.50 to $28.00. The stock had previously closed at $27.70, but opened at $20.97. The Goldman Sachs Group currently has a neutral rating on the stock. Super Micro Computer shares last traded at $20.93, with a volume of 23,633,508 shares traded.
Other equities research analysts have also recently issued research reports about the company. Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a research note on Monday. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and cut their target price for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Needham & Company LLC began coverage on Super Micro Computer in a research note on Wednesday, September 18th. They set a “buy” rating and a $60.00 price target on the stock. Nomura cut Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered shares of Super Micro Computer from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $50.00 to $23.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.89.
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Super Micro Computer Stock Performance
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 $12.70 billion, a PE ratio of 11.40 and a beta of 1.28. The stock’s 50 day moving average price is $43.36 and its two-hundred day moving average price is $65.69.
Super Micro Computer (NASDAQ:SMCI – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share 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 company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was up 142.9% on a year-over-year basis. On average, equities analysts expect that Super Micro Computer, Inc. will post 2.85 earnings per share for the current year.
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.
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