Super Micro Computer (NASDAQ:SMCI – Get Rating) updated its third quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.400-$1.500 for the period, compared to the Thomson Reuters consensus estimate of $0.800. The company issued revenue guidance of $1.30 billion-$1.35 billion, compared to the consensus revenue estimate of $1.14 billion.
SMCI has been the subject of several recent analyst reports. Zacks Investment Research cut Super Micro Computer from a buy rating to a hold rating in a research report on Wednesday, April 6th. StockNews.com began coverage on Super Micro Computer in a research note on Thursday, March 31st. They set a hold rating for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $50.60.
SMCI traded up $1.01 during trading on Monday, hitting $36.61. 207,861 shares of the company’s stock traded hands, compared to its average volume of 239,740. The business’s 50 day moving average is $39.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.91 and a quick ratio of 0.75. Super Micro Computer has a 12-month low of $32.88 and a 12-month high of $47.99. The firm has a market cap of $1.89 billion, a PE ratio of 17.66 and a beta of 1.36.
Super Micro Computer (NASDAQ:SMCI – Get Rating) last released its quarterly earnings results on Tuesday, February 1st. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.11. Super Micro Computer had a return on equity of 11.50% and a net margin of 3.00%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 41.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Super Micro Computer will post 2.67 earnings per share for the current fiscal year.
In other news, Director Sherman Tuan sold 9,604 shares of Super Micro Computer stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $39.00, for a total transaction of $374,556.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Liang sold 29,000 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, January 19th. The shares were sold at an average price of $43.29, for a total transaction of $1,255,410.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,216 shares of company stock valued at $3,260,792. Company insiders own 15.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in shares of Super Micro Computer by 313.9% during the second quarter. Morgan Stanley now owns 65,344 shares of the company’s stock valued at $2,300,000 after buying an additional 49,558 shares during the last quarter. Millennium Management LLC purchased a new stake in Super Micro Computer in the third quarter valued at $494,000. Bank of New York Mellon Corp boosted its holdings in Super Micro Computer by 4.7% in the third quarter. Bank of New York Mellon Corp now owns 207,657 shares of the company’s stock valued at $7,594,000 after purchasing an additional 9,357 shares during the last quarter. Citigroup Inc. raised its position in shares of Super Micro Computer by 107.6% in the fourth quarter. Citigroup Inc. now owns 11,861 shares of the company’s stock worth $521,000 after acquiring an additional 6,148 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Super Micro Computer by 8.5% during the 4th quarter. Nuveen Asset Management LLC now owns 250,909 shares of the company’s stock worth $10,427,000 after acquiring an additional 19,708 shares in the last quarter. 69.02% of the stock is currently owned by institutional investors and hedge funds.
About Super Micro Computer (Get Rating)
Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high-performance server and storage solutions based on modular and open architecture. Its solutions range from complete server, storage, modular blade servers, blades, workstations, full racks, networking devices, server management software, and server sub-systems, as well as support and services.
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