Barclays Reiterates “Overweight” Rating for Super Micro Computer (NASDAQ:SMCI)

Barclays reaffirmed their overweight rating on shares of Super Micro Computer (NASDAQ:SMCI) in a report published on Wednesday morning, Benzinga reports. They currently have a $693.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Nomura downgraded shares of Super Micro Computer from a buy rating to a neutral rating and set a $930.00 price objective for the company. in a research report on Wednesday, July 10th. The Goldman Sachs Group lowered their target price on Super Micro Computer from $775.00 to $675.00 and set a neutral rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Super Micro Computer from $1,150.00 to $950.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. Wedbush restated a neutral rating and set a $800.00 price objective on shares of Super Micro Computer in a research note on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a buy rating and issued a $1,300.00 target price on shares of Super Micro Computer in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $840.36.

Super Micro Computer Price Performance

Shares of SMCI stock opened at $443.49 on Wednesday. The firm has a fifty day moving average of $725.34 and a two-hundred day moving average of $837.06. The firm has a market cap of $24.81 billion, a P/E ratio of 24.86, a P/E/G ratio of 0.71 and a beta of 1.27. Super Micro Computer has a 1-year low of $226.59 and a 1-year high of $1,229.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer shares are set to split on the morning of 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 quarterly earnings data on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period in the prior year, the firm earned $3.43 earnings per share. The firm’s quarterly revenue was up 142.9% compared to the same quarter last year. As a group, research analysts anticipate that Super Micro Computer will post 28.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction of $240,600.00. Following the sale, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of SMCI. New Century Financial Group LLC acquired a new position in shares of Super Micro Computer in the 2nd quarter worth approximately $344,000. Cetera Investment Advisers boosted its holdings in Super Micro Computer by 24.5% during the second quarter. Cetera Investment Advisers now owns 34,324 shares of the company’s stock worth $28,123,000 after buying an additional 6,749 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in Super Micro Computer in the second quarter worth approximately $269,000. B. Riley Wealth Advisors Inc. grew its position in Super Micro Computer by 4.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 7,856 shares of the company’s stock worth $6,437,000 after buying an additional 313 shares during the last quarter. Finally, Regal Investment Advisors LLC bought a new position in shares of Super Micro Computer in the second quarter valued at $378,000. 84.06% of the stock is currently owned by institutional investors.

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.