Super Micro Computer (NASDAQ:SMCI) Price Target Cut to $1,000.00

Super Micro Computer (NASDAQ:SMCI) had its target price decreased by investment analysts at Loop Capital from $1,500.00 to $1,000.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 112.12% from the company’s current price.

Several other brokerages have also recently commented on SMCI. Nomura cut Super Micro Computer from a “buy” rating to a “neutral” rating and set a $930.00 price target for the company. in a research report on Wednesday, July 10th. Barclays cut shares of Super Micro Computer from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $693.00 to $438.00 in a research report on Wednesday, September 4th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $950.00 to $500.00 in a research note on Friday, September 6th. Finally, Wells Fargo & Company decreased their target price on shares of Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $725.63.

Super Micro Computer Price Performance

SMCI traded up $14.16 during trading on Monday, hitting $471.43. The company’s stock had a trading volume of 1,221,980 shares, compared to its average volume of 8,265,926. 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 $26.37 billion, a price-to-earnings ratio of 25.67 and a beta of 1.24. The business’s fifty day simple moving average is $578.53 and its 200 day simple moving average is $784.50. Super Micro Computer has a twelve month low of $226.59 and a twelve month high of $1,229.00.

Super Micro Computer shares are going to split on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly issued shares will be payable to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.63 by ($1.38). The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm’s revenue for the quarter was up 142.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.43 EPS. On average, equities research analysts forecast that Super Micro Computer will post 28.5 EPS for the current fiscal year.

Institutional Trading of Super Micro Computer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMCI. Acadian Asset Management LLC purchased a new position in shares of Super Micro Computer during the first quarter worth $98,000. Vanguard Group Inc. lifted its stake in Super Micro Computer by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 6,194,607 shares of the company’s stock worth $6,256,739,000 after acquiring an additional 1,265,542 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in Super Micro Computer during the 1st quarter valued at about $1,423,000. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 period. Finally, Nordea Investment Management AB lifted its position in shares of Super Micro Computer by 1,516.8% during the first 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 in the last quarter. Hedge funds and other institutional investors own 84.06% of the company’s stock.

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.