Super Micro Computer (NASDAQ:SMCI) Lowered to “Equal Weight” at Barclays

Barclays downgraded shares of Super Micro Computer (NASDAQ:SMCI) from an overweight rating to an equal weight rating in a research note published on Wednesday, Marketbeat reports. The brokerage currently has $438.00 price target on the stock, down from their previous price target of $693.00.

SMCI has been the topic of several other research reports. Wedbush reiterated a neutral rating and issued a $800.00 price target on shares of Super Micro Computer in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Super Micro Computer from $775.00 to $675.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Bank of America lowered shares of Super Micro Computer from a buy rating to a neutral rating and lowered their price objective for the stock from $1,090.00 to $700.00 in a report on Wednesday, August 7th. Susquehanna upped their target price on Super Micro Computer from $285.00 to $325.00 and gave the stock a negative rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lowered their target price on Super Micro Computer from $650.00 to $375.00 and set an equal weight rating for the company in a research note on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Super Micro Computer currently has a consensus rating of Hold and a consensus price target of $822.14.

Super Micro Computer Stock Performance

Super Micro Computer stock opened at $423.47 on Wednesday. The firm has a fifty day simple moving average of $682.65 and a two-hundred day simple moving average of $822.63. 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 twelve month low of $226.59 and a twelve month high of $1,229.00. The company has a market capitalization of $23.68 billion, a PE ratio of 23.74 and a beta of 1.24.

Super Micro Computer’s stock is set to split on the morning of Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be issued to shareholders after the market closes 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. Research analysts expect that Super Micro Computer will post 28.5 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors have recently made changes to their positions in SMCI. New Century Financial Group LLC bought a new position in Super Micro Computer in the 2nd quarter valued at approximately $344,000. Cetera Investment Advisers lifted its holdings in shares of Super Micro Computer by 24.5% during the second quarter. Cetera Investment Advisers now owns 34,324 shares of the company’s stock valued at $28,123,000 after purchasing an additional 6,749 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of Super Micro Computer during the second quarter valued at $269,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Super Micro Computer by 4.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 7,856 shares of the company’s stock valued at $6,437,000 after buying an additional 313 shares during the last quarter. Finally, Regal Investment Advisors LLC bought a new stake in Super Micro Computer in the 2nd quarter worth about $378,000. 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.