Super Micro Computer (NASDAQ:SMCI) Downgraded by JPMorgan Chase & Co. to Underweight

Super Micro Computer (NASDAQ:SMCI) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $23.00 price objective on the stock, down from their prior price objective of $50.00. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 9.73% from the company’s previous close.

Several other analysts also recently weighed in on SMCI. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Super Micro Computer in a research report on Wednesday, August 7th. The Goldman Sachs Group dropped their price target on Super Micro Computer from $77.50 to $67.50 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Bank of America cut Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their price target for the company from $109.00 to $70.00 in a research report on Wednesday, August 7th. Finally, Wedbush restated a “neutral” rating and issued a $32.00 price target (down previously from $62.00) on shares of Super Micro Computer in a research report on Monday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Super Micro Computer has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Up 12.2 %

Super Micro Computer stock opened at $25.48 on Wednesday. Super Micro Computer has a fifty-two week low of $20.20 and a fifty-two week high of $122.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The company has a market capitalization of $14.25 billion, a P/E ratio of 12.80 and a beta of 1.28. The stock has a 50-day simple moving average of $42.72 and a 200-day simple moving average of $65.35.

Super Micro Computer (NASDAQ:SMCI) last posted its 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 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 analysts’ expectations of $5.32 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 142.9% on a year-over-year basis. Equities research analysts expect that Super Micro Computer will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors and hedge funds have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. grew its holdings in shares of Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after acquiring an additional 24 shares during the period. Moser Wealth Advisors LLC acquired a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $25,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares during the period. VitalStone Financial LLC grew its holdings in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Super Micro Computer in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds 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.