Wall Street brokerages expect Super Micro Computer (NASDAQ:SMCI) to report sales of $736.05 million for the current quarter, according to Zacks. Two analysts have issued estimates for Super Micro Computer’s earnings, with the highest sales estimate coming in at $750.00 million and the lowest estimate coming in at $722.10 million. Super Micro Computer reported sales of $631.12 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.6%. The business is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Super Micro Computer will report full year sales of $736.05 million for the current financial year, with estimates ranging from $3.02 billion to $3.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.16 billion per share, with estimates ranging from $3.12 billion to $3.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Super Micro Computer.
Several research firms have recently commented on SMCI. Zacks Investment Research lowered Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research note on Thursday. BidaskClub lowered Super Micro Computer from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 27th. Finally, Maxim Group upped their price objective on Super Micro Computer from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $28.14.
A number of hedge funds have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its stake in Super Micro Computer by 60.3% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,250 shares of the technology company’s stock worth $315,000 after buying an additional 5,360 shares in the last quarter. Geode Capital Management LLC increased its stake in Super Micro Computer by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 350,279 shares of the technology company’s stock worth $7,329,000 after buying an additional 5,743 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Super Micro Computer by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 487,691 shares of the technology company’s stock worth $10,204,000 after buying an additional 6,663 shares in the last quarter. Paloma Partners Management Co increased its stake in Super Micro Computer by 74.7% in the 4th quarter. Paloma Partners Management Co now owns 16,112 shares of the technology company’s stock worth $337,000 after buying an additional 6,889 shares in the last quarter. Finally, Needham Investment Management LLC increased its stake in Super Micro Computer by 1.1% in the 4th quarter. Needham Investment Management LLC now owns 658,450 shares of the technology company’s stock worth $13,778,000 after buying an additional 7,400 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.
Shares of NASDAQ:SMCI traded down $0.20 during midday trading on Wednesday, hitting $16.35. The company had a trading volume of 259,845 shares, compared to its average volume of 508,068. The firm has a market capitalization of $805.87, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.85 and a beta of 0.17. Super Micro Computer has a 12-month low of $16.10 and a 12-month high of $27.90.
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About Super Micro Computer
Super Micro Computer, Inc, together with its subsidiaries, develops and provides high performance server solutions based on modular and open architecture. It offers a range of server, storage, blade, workstation, and full rack solutions, as well as networking devices, server management software, and technology support and services.
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