Super Micro Computer (NASDAQ:SMCI) Price Target Cut to $50.00 by Analysts at Rosenblatt Securities

Super Micro Computer (NASDAQ:SMCI) had its price objective decreased by Rosenblatt Securities from $55.00 to $50.00 in a research note released on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. dropped their target price on Super Micro Computer from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Loop Capital restated a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Mizuho set a $34.00 target price on shares of Super Micro Computer in a report on Tuesday. Finally, The Goldman Sachs Group cut shares of Super Micro Computer from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $40.00 to $32.00 in a report on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $45.53.

Super Micro Computer Price Performance

Shares of SMCI opened at $32.02 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a market cap of $19.11 billion, a P/E ratio of 16.07 and a beta of 1.36. Super Micro Computer has a 12 month low of $17.25 and a 12 month high of $101.40. The stock has a fifty day moving average price of $35.37 and a 200 day moving average price of $35.24.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. On average, research analysts forecast that Super Micro Computer will post 1.86 earnings per share for the current year.

Insider Buying and Selling at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction on Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 in the last quarter. Company insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eastern Bank bought a new position in shares of Super Micro Computer in the first quarter valued at approximately $29,000. Salem Investment Counselors Inc. acquired a new position in Super Micro Computer during the 4th quarter worth $30,000. Trust Co. of Vermont boosted its holdings in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 900 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock valued at $30,000 after purchasing an additional 954 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after purchasing an additional 893 shares during the period. Institutional investors and hedge funds 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.