The Goldman Sachs Group Issues Pessimistic Forecast for Super Micro Computer (NASDAQ:SMCI) Stock Price

Super Micro Computer (NASDAQ:SMCI) had its target price lowered by The Goldman Sachs Group from $67.50 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.89% from the company’s current price.

SMCI has been the subject of several other reports. Barclays lowered their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Nomura Securities cut shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Bank of America cut shares of Super Micro Computer from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Susquehanna increased their price target on shares of Super Micro Computer from $28.50 to $32.50 and gave the stock a “negative” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company reduced their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Up 12.2 %

Shares of Super Micro Computer stock opened at $25.48 on Wednesday. The business has a 50-day moving average of $42.72 and a 200-day moving average of $65.35. 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 capitalization of $14.25 billion, a PE ratio of 12.80 and a beta of 1.28. Super Micro Computer has a 1-year low of $20.20 and a 1-year high of $122.90.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Tuesday, August 6th. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.14). The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm’s revenue was up 142.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, equities analysts forecast that Super Micro Computer will post 2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently bought and sold shares of SMCI. Farmers & Merchants Investments Inc. raised its holdings in shares of Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after buying an additional 24 shares during the last quarter. Moser Wealth Advisors LLC bought a new stake in shares of Super Micro Computer during the second quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the last quarter. VitalStone Financial LLC raised its holdings in shares of Super Micro Computer by 250.0% during the first quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Super Micro Computer during the second quarter valued at approximately $42,000. 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.