The Goldman Sachs Group Cuts Super Micro Computer (NASDAQ:SMCI) Price Target to $28.00

Super Micro Computer (NASDAQ:SMCI) had its price target trimmed by The Goldman Sachs Group from $67.50 to $28.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms also recently issued reports on SMCI. Cfra reissued a “hold” rating and issued a $45.40 price target (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Nomura Securities downgraded Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Nomura downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a report on Wednesday, July 10th. Wedbush restated a “neutral” rating and set a $32.00 target price (down previously from $62.00) on shares of Super Micro Computer in a report on Monday, November 4th. Finally, Barclays lowered their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.89.

Super Micro Computer Trading Down 3.8 %

SMCI traded down $0.96 during trading on Wednesday, reaching $24.52. 60,549,560 shares of the company’s stock were exchanged, compared to its average volume of 80,882,703. The company’s fifty day moving average price is $41.93 and its 200-day moving average price is $64.79. The firm has a market capitalization of $13.71 billion, a PE ratio of 12.31 and a beta of 1.28. Super Micro Computer has a fifty-two week low of $20.20 and a fifty-two week high of $122.90. 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 (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.14). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue was up 142.9% compared to the same quarter last year. As a group, equities analysts forecast that Super Micro Computer will post 2.85 EPS for the current year.

Institutional Investors Weigh In On Super Micro Computer

Several institutional investors and hedge funds have recently made changes to their positions in SMCI. Advisors Asset Management Inc. boosted its position in Super Micro Computer by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock valued at $1,090,000 after acquiring an additional 478 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Super Micro Computer by 34.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,174 shares of the company’s stock valued at $3,820,000 after purchasing an additional 2,335 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Super Micro Computer in the third quarter worth approximately $548,000. FWG Holdings LLC acquired a new position in Super Micro Computer in the third quarter valued at approximately $1,791,000. Finally, Prospera Financial Services Inc boosted its holdings in shares of Super Micro Computer by 41.4% during the 3rd quarter. Prospera Financial Services Inc now owns 3,031 shares of the company’s stock worth $1,262,000 after buying an additional 888 shares in the last quarter. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Company Profile

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.