Super Micro Computer (NASDAQ:SMCI) Downgraded by JPMorgan Chase & Co.

Super Micro Computer (NASDAQ:SMCI) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They presently have a $500.00 price target on the stock, down from their prior price target of $950.00. JPMorgan Chase & Co.‘s price target suggests a potential upside of 20.60% from the stock’s previous close.

Several other research firms have also issued reports on SMCI. StockNews.com lowered shares of Super Micro Computer from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on shares of Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 28th. Barclays lowered shares of Super Micro Computer from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $693.00 to $438.00 in a report on Wednesday. Finally, Susquehanna raised their price target on shares of Super Micro Computer from $285.00 to $325.00 and gave the company a “negative” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $790.00.

Super Micro Computer Stock Performance

NASDAQ:SMCI opened at $414.60 on Friday. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company has a market cap of $23.19 billion, a P/E ratio of 23.24 and a beta of 1.24. Super Micro Computer has a fifty-two week low of $226.59 and a fifty-two week high of $1,229.00. The firm’s 50 day moving average is $673.13 and its two-hundred day moving average is $819.80.

Super Micro Computer shares are scheduled to split before the market opens on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly created shares will be payable to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The business’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.43 EPS. Analysts expect that Super Micro Computer will post 28.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMCI. Farmers & Merchants Investments Inc. lifted its position in shares of Super Micro Computer by 400.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after buying an additional 24 shares during the last quarter. Moser Wealth Advisors LLC bought a new position in shares of Super Micro Computer in the 2nd quarter worth about $25,000. Bank of New Hampshire bought a new position in shares of Super Micro Computer in the 1st quarter worth about $35,000. VitalStone Financial LLC lifted its position in shares of Super Micro Computer by 250.0% in the 1st quarter. VitalStone Financial LLC now owns 35 shares of the company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Super Micro Computer by 141.2% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after buying an additional 24 shares during the last quarter. 84.06% of the stock is owned by institutional investors and hedge funds.

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.