Wedbush Reaffirms “Neutral” Rating for Super Micro Computer (NASDAQ:SMCI)

Wedbush reaffirmed their neutral rating on shares of Super Micro Computer (NASDAQ:SMCI) in a research report released on Wednesday, Benzinga reports. Wedbush currently has a $530.00 price target on the stock.

Several other research firms have also recently commented on SMCI. Rosenblatt Securities raised their price target on Super Micro Computer from $700.00 to $1,300.00 and gave the company a buy rating in a report on Tuesday, February 20th. StockNews.com cut Super Micro Computer from a hold rating to a sell rating in a report on Tuesday. Wells Fargo & Company started coverage on Super Micro Computer in a report on Friday, February 16th. They issued an equal weight rating and a $960.00 price target for the company. Argus initiated coverage on Super Micro Computer in a report on Wednesday, March 6th. They issued a buy rating and a $1,350.00 price target for the company. Finally, Bank of America raised their price objective on Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a buy rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Super Micro Computer currently has an average rating of Hold and an average price target of $949.85.

Super Micro Computer Stock Up 8.9 %

Super Micro Computer stock opened at $857.44 on Wednesday. Super Micro Computer has a twelve month low of $93.34 and a twelve month high of $1,229.00. The stock has a 50 day moving average of $948.90 and a two-hundred day moving average of $564.93. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $47.96 billion, a price-to-earnings ratio of 66.94, a PEG ratio of 0.67 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Monday, January 29th. The company reported $5.59 EPS for the quarter, beating the consensus estimate of $4.94 by $0.65. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The company’s quarterly revenue was up 103.0% compared to the same quarter last year. During the same period last year, the firm earned $3.09 EPS. As a group, research analysts expect that Super Micro Computer will post 20.24 earnings per share for the current year.

Insiders Place Their Bets

In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the transaction, the director now owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sherman Tuan sold 5,000 shares of Super Micro Computer stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the sale, the director now owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total value of $162,000.00. Following the completion of the sale, the director now directly owns 20,087 shares of the company’s stock, valued at approximately $10,846,980. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,989 shares of company stock valued at $30,113,681. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Super Micro Computer by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 4,929,065 shares of the company’s stock valued at $1,401,136,000 after purchasing an additional 194,700 shares during the period. International Assets Investment Management LLC boosted its holdings in Super Micro Computer by 56,764.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company’s stock valued at $375,818,000 after acquiring an additional 1,319,768 shares during the last quarter. Northern Trust Corp boosted its holdings in Super Micro Computer by 7.4% in the third quarter. Northern Trust Corp now owns 651,010 shares of the company’s stock valued at $178,520,000 after acquiring an additional 44,678 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Super Micro Computer in the third quarter valued at $140,751,000. Finally, Bank of New York Mellon Corp boosted its holdings in Super Micro Computer by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 487,044 shares of the company’s stock valued at $133,557,000 after acquiring an additional 20,296 shares during the last quarter. Hedge funds and other institutional investors 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.