Raymond James Initiates Coverage on Super Micro Computer (NASDAQ:SMCI)

Equities research analysts at Raymond James initiated coverage on shares of Super Micro Computer (NASDAQ:SMCI) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $41.00 price target on the stock. Raymond James’ price objective would suggest a potential upside of 11.65% from the company’s previous close.

Several other analysts have also recently commented on SMCI. StockNews.com upgraded Super Micro Computer to a “sell” rating in a report on Thursday, May 8th. Wedbush reissued a “neutral” rating and set a $30.00 price objective (down from $40.00) on shares of Super Micro Computer in a report on Wednesday, May 7th. KGI Securities started coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. cut their target price on Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.25.

Super Micro Computer Stock Performance

NASDAQ SMCI traded up $3.20 during trading hours on Tuesday, hitting $36.72. The company had a trading volume of 15,254,062 shares, compared to its average volume of 64,164,727. The company has a market cap of $21.91 billion, a PE ratio of 18.43 and a beta of 1.36. The business has a 50 day moving average of $35.26 and a 200-day moving average of $35.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. Super Micro Computer has a 1-year low of $17.25 and a 1-year high of $101.40.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results 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 firm 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 30.57% and a net margin of 8.09%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, equities research analysts expect that Super Micro Computer will post 1.86 EPS for the current year.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at $981,785.52. The trade was a 78.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders have sold a total of 137,473 shares of company stock worth $6,771,552 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Super Micro Computer by 4.8% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 114,100 shares of the company’s stock valued at $3,907,000 after acquiring an additional 5,200 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Super Micro Computer during the first quarter worth approximately $558,000. National Pension Service grew its holdings in shares of Super Micro Computer by 8.3% during the first quarter. National Pension Service now owns 1,028,024 shares of the company’s stock worth $35,200,000 after purchasing an additional 78,804 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Super Micro Computer by 118.5% in the first quarter. Russell Investments Group Ltd. now owns 289,928 shares of the company’s stock valued at $9,927,000 after buying an additional 157,240 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its stake in Super Micro Computer by 5.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 162,713 shares of the company’s stock valued at $5,572,000 after purchasing an additional 7,744 shares during the period. Institutional investors and hedge funds 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.