Super Micro Computer (NASDAQ:SMCI) Given New $28.00 Price Target at The Goldman Sachs Group

Super Micro Computer (NASDAQ:SMCI) had its price target cut by equities research analysts at The Goldman Sachs Group from $67.50 to $28.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 29.33% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Susquehanna lifted their price target on shares of Super Micro Computer from $28.50 to $32.50 and gave the company a “negative” rating in a report on Monday, July 15th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Super Micro Computer in a research report on Wednesday, August 7th. StockNews.com cut shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Argus cut shares of Super Micro Computer from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays cut their price target on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $66.89.

Super Micro Computer Stock Performance

Shares of SMCI traded down $6.05 on Wednesday, reaching $21.65. The company’s stock had a trading volume of 79,545,703 shares, compared to its average volume of 80,742,914. 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 stock has a market capitalization of $12.11 billion, a P/E ratio of 10.87 and a beta of 1.28. The stock’s 50 day simple moving average is $43.93 and its two-hundred day simple moving average is $66.15. Super Micro Computer has a 12-month low of $20.20 and a 12-month high of $122.90.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly 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). Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the firm earned $0.34 EPS. Super Micro Computer’s revenue for the quarter was up 142.9% compared to the same quarter last year. Research analysts forecast that Super Micro Computer will post 2.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in Super Micro Computer by 147.3% during the 3rd quarter. CIBC Asset Management Inc now owns 17,132 shares of the company’s stock worth $7,134,000 after buying an additional 10,203 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Super Micro Computer by 108.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,132 shares of the company’s stock worth $471,000 after acquiring an additional 589 shares in the last quarter. Bell Bank purchased a new stake in Super Micro Computer in the 3rd quarter worth $259,000. ICICI Prudential Asset Management Co Ltd purchased a new stake in Super Micro Computer in the 3rd quarter worth $318,000. Finally, Chase Investment Counsel Corp boosted its stake in Super Micro Computer by 231.7% during the 3rd quarter. Chase Investment Counsel Corp now owns 2,690 shares of the company’s stock worth $1,120,000 after purchasing an additional 1,879 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.