Super Micro Computer (NASDAQ:SMCI) Updates Q3 2022 Earnings Guidance

Super Micro Computer (NASDAQ:SMCI – Get Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.400-$1.500 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.800. The company issued revenue guidance of $1.30 billion-$1.35 billion, compared to the consensus revenue estimate of $1.14 billion.

Shares of SMCI stock opened at $42.36 on Monday. Super Micro Computer has a 1-year low of $32.88 and a 1-year high of $47.99. The stock’s fifty day simple moving average is $40.01. The company has a current ratio of 1.91, a quick ratio of 0.75 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.20 billion, a P/E ratio of 18.03 and a beta of 1.36.

Super Micro Computer (NASDAQ:SMCI – Get Rating) last announced its earnings results on Tuesday, February 1st. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.11. Super Micro Computer had a return on equity of 11.50% and a net margin of 3.00%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. Sell-side analysts predict that Super Micro Computer will post 3.14 EPS for the current year.

Several research firms have weighed in on SMCI. Zacks Investment Research upgraded Super Micro Computer from a hold rating to a buy rating and set a $50.00 price target on the stock in a research note on Friday. StockNews.com began coverage on Super Micro Computer in a research note on Thursday, March 31st. They set a hold rating on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $52.00.

In other news, Director Sherman Tuan sold 9,604 shares of the business’s stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $39.00, for a total value of $374,556.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Liang sold 5,388 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $42.00, for a total value of $226,296.00. Following the completion of the transaction, the chief executive officer now directly owns 45,305 shares of the company’s stock, valued at approximately $1,902,810. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,604 shares of company stock worth $2,231,678. Company insiders own 16.70% of the company’s stock.

Several hedge funds have recently modified their holdings of SMCI. Allianz Asset Management GmbH acquired a new position in Super Micro Computer in the 4th quarter worth about $224,000. Walleye Trading LLC acquired a new position in Super Micro Computer in the 4th quarter worth about $231,000. Zacks Investment Management acquired a new position in Super Micro Computer in the 4th quarter worth about $340,000. Millennium Management LLC acquired a new position in Super Micro Computer in the 3rd quarter worth about $494,000. Finally, Citigroup Inc. raised its holdings in Super Micro Computer by 107.6% in the 4th quarter. Citigroup Inc. now owns 11,861 shares of the company’s stock worth $521,000 after purchasing an additional 6,148 shares during the period. 69.02% of the stock is owned by institutional investors and hedge funds.

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.

Read More