Mizuho Forecasts Strong Price Appreciation for Super Micro Computer (NASDAQ:SMCI) Stock

Super Micro Computer (NASDAQ:SMCI) had its price target raised by Mizuho from $40.00 to $47.00 in a report released on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

SMCI has been the topic of several other reports. The Goldman Sachs Group cut shares of Super Micro Computer from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Raymond James Financial assumed coverage on Super Micro Computer in a report on Wednesday, June 25th. They set an “outperform” rating for the company. Rosenblatt Securities reduced their price objective on Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded Super Micro Computer to a “sell” rating in a research note on Thursday, May 8th. Finally, Citigroup began coverage on Super Micro Computer in a report on Tuesday, May 6th. They issued a “neutral” rating and a $39.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.06.

Super Micro Computer Stock Performance

SMCI opened at $48.51 on Thursday. The stock’s 50 day simple moving average is $41.18 and its 200-day simple moving average is $37.88. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38. The stock has a market cap of $28.95 billion, a PE ratio of 25.52 and a beta of 1.43. Super Micro Computer has a 1 year low of $17.25 and a 1 year high of $96.33.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The company 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 20.41% and a net margin of 5.61%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Sell-side analysts forecast that Super Micro Computer will post 1.86 EPS for the current year.

Insider Transactions at Super Micro Computer

In related news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the sale, the director directly owned 66,903,640 shares of the company’s stock, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the transaction, the chief financial officer owned 88,599 shares in the company, valued at $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 667,000 shares of company stock worth $29,949,340 in the last quarter. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eastern Bank acquired a new position in Super Micro Computer in the first quarter valued at about $29,000. Larson Financial Group LLC grew its position in shares of Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of Super Micro Computer in the 1st quarter valued at about $34,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Super Micro Computer in the 1st quarter valued at approximately $34,000. Finally, Garde Capital Inc. boosted its stake in Super Micro Computer by 42.1% during the 2nd quarter. Garde Capital Inc. now owns 1,013 shares of the company’s stock worth $50,000 after acquiring an additional 300 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

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.