Super Micro Computer (NASDAQ:SMCI) Releases Q3 Earnings Guidance

Super Micro Computer (NASDAQ:SMCIGet Rating) updated its third quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.40-$1.50 for the period, compared to the Thomson Reuters consensus estimate of $0.80. The company issued revenue guidance of $1.30-$1.35 billion, compared to the consensus revenue estimate of $1.14 billion.Super Micro Computer also updated its Q3 2022 guidance to $1.400-$1.500 EPS.

Several research firms recently issued reports on SMCI. Zacks Investment Research cut Super Micro Computer from a buy rating to a hold rating in a report on Wednesday, April 6th. StockNews.com started coverage on shares of Super Micro Computer in a report on Thursday, March 31st. They issued a hold rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $50.60.

Shares of Super Micro Computer stock traded up $0.09 during trading on Monday, reaching $36.61. The stock had a trading volume of 240,786 shares, compared to its average volume of 240,453. The company has a quick ratio of 0.75, a current ratio of 1.91 and a debt-to-equity ratio of 0.12. Super Micro Computer has a 52 week low of $32.88 and a 52 week high of $47.99. The company has a market cap of $1.89 billion, a P/E ratio of 15.58 and a beta of 1.36. The business’s fifty day simple moving average is $39.58.

Super Micro Computer (NASDAQ:SMCIGet Rating) last announced its quarterly earnings data on Tuesday, February 1st. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.11. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Super Micro Computer had a return on equity of 11.50% and a net margin of 3.00%. Super Micro Computer’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. On average, analysts anticipate that Super Micro Computer will post 2.67 earnings per share for the current fiscal year.

In related news, CEO Charles Liang sold 29,000 shares of the firm’s stock in a transaction dated Wednesday, January 19th. The shares were sold at an average price of $43.29, for a total transaction of $1,255,410.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sherman Tuan sold 9,604 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $39.00, for a total transaction of $374,556.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,216 shares of company stock worth $3,260,792. 15.80% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Super Micro Computer by 313.9% during the second quarter. Morgan Stanley now owns 65,344 shares of the company’s stock worth $2,300,000 after acquiring an additional 49,558 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Super Micro Computer during the third quarter worth $494,000. Bank of New York Mellon Corp increased its position in shares of Super Micro Computer by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 207,657 shares of the company’s stock worth $7,594,000 after buying an additional 9,357 shares during the period. Citigroup Inc. increased its position in shares of Super Micro Computer by 107.6% during the fourth quarter. Citigroup Inc. now owns 11,861 shares of the company’s stock worth $521,000 after buying an additional 6,148 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Super Micro Computer by 8.5% during the fourth quarter. Nuveen Asset Management LLC now owns 250,909 shares of the company’s stock worth $10,427,000 after purchasing an additional 19,708 shares during the period. 69.02% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Company Profile (Get Rating)

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high-performance server and storage solutions based on modular and open architecture. Its solutions range from complete server, storage, modular blade servers, blades, workstations, full racks, networking devices, server management software, and server sub-systems, as well as support and services.

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