On September 19, 2023, Barclays, a renowned investment bank and financial services company, initiated coverage on shares of Super Micro Computer (NASDAQ:SMCI), according to an article by Briefing.com. In their note to investors, Barclays analysts assigned an “overweight” rating and set a price target of $327.00 for the stock. This target price implies a potential upside of 33.85% from the current trading price.
Shares of SMCI opened at $244.30 on Tuesday, displaying a significant rise in value since its one-year low of $50.28. The stock also reached a one-year high of $357.00 during this period. Super Micro Computer boasts a strong financial position with a debt-to-equity ratio of 0.06 and favorable liquidity ratios such as the current ratio of 2.31 and quick ratio of 1.26.
With a market capitalization of approximately $12.92 billion, Super Micro Computer operates in the technology industry and has a price-to-earnings ratio of 21.34 as well as a beta value of 1.29 which indicates moderate volatility relative to the market index.
It is worth noting that over the past fifty days, the stock’s moving average stood at $286.18, while its two-hundred-day moving average was recorded at $203.57.
In terms of institutional participation, various hedge funds have recently engaged in activities involving SMCI shares. Davidson Kempner Capital Management LP purchased shares valued at about $47,855,000 during the second quarter, indicating their confidence in the company’s prospects. Additionally, Portside Wealth Group LLC acquired a position valued at roughly $1,371,000 during this period.
Strategy Asset Managers LLC also showed confidence in Super Micro Computer by purchasing shares worth approximately $204,000 in the second quarter while Virginia Retirement Systems ET AL invested around $3,141,000 in the company’s stock. Teachers Retirement System of The State of Kentucky increased its holdings by 59.6% during the second quarter, accumulating 8,957 additional shares and thus demonstrating a positive sentiment towards Super Micro Computer. In total, institutional investors and hedge funds own approximately 72.75% of the company’s stock.
Super Micro Computer last released its quarterly earnings data on August 8th, 2023. The company reported earnings per share (EPS) of $3.43 for the quarter, surpassing analysts’ consensus estimate by $0.22. This remarkable performance reflects a return on equity of 35.13% and a net margin of 8.98%. Furthermore, Super Micro Computer generated $2.18 billion in revenue for the quarter, slightly surpassing the consensus estimate of $2.17 billion.
Looking ahead to the current fiscal year, research analysts predict that Super Micro Computer will post earnings per share amounting to approximately $14.37.
In conclusion, Barclays’ initiation of coverage on Super Micro Computer signifies their positive outlook for the stock with an “overweight” rating and a target price suggesting substantial potential upside from the current trading price. As always, investors should carefully consider all available information before making any investment decisions in order to mitigate risk and achieve their financial goals.
Waste Connections, Inc.
Updated on: 01/10/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
Kyle White, CFA
Michael E. Hoffman
Insights and Rating Updates on Super Micro Computer (SMCI)
On September 19, 2023, several brokerages released their reports on Super Micro Computer (SMCI), providing insights into the company’s performance and potential. One noteworthy report came from Loop Capital, which raised its price objective on SMCI shares from $325.00 to $400.00. Loop Capital also awarded the company a “buy” rating in their report dated August 7th.
Another brokerage, Susquehanna, increased their price target on Super Micro Computer shares from $90.00 to $300.00, while maintaining a “neutral” rating in their report published on August 10th. Northland Securities also joined the discussion with a report on July 21st, elevating Super Micro Computer’s price objective from $300.00 to $345.00 and designating the company as an “outperform.”
Wedbush offered an interesting perspective in their report released on August 23rd. They upgraded Super Micro Computer’s rating from “underperform” to “neutral” and established a $250.00 target price for the stock.
The positive sentiment continued as Rosenblatt Securities reaffirmed their “buy” rating and issued a price target of $375.00 for SMCI shares in their research note dated August 8th.
Overall, four equities research analysts have recommended holding SMCI stock while an equal number have given it a buy rating. As reported by Bloomberg.com, the consensus rating for Super Micro Computer is currently labeled as “Moderate Buy,” with an average price target of $293.14.
In other news regarding these developments, Senior Vice President (SVP) George Kao sold 2,968 shares of Super Micro Computer’s stock on Thursday, August 31st for a total transaction value of approximately $833,384.72 at an average price of $280.79 per share. As a result of this sale, Kao now owns 7,590 shares in the company, valued at around $2,131,196.10. This transaction was appropriately documented and disclosed through filing with the Securities & Exchange Commission (SEC), accessible via a provided hyperlink.
Furthermore, Director Shiu Leung Chan made a notable move on August 11th by purchasing 4,000 shares of Super Micro Computer’s stock at an average cost of $265.57 per share. The total value of this acquisition amounted to $1,062,280.00. Following this purchase, Chan now holds 40,917 shares in the company, worth an estimated $10,866,327.69. Details about this purchase are available through the disclosed filing.
During the past three months alone, insiders have collectively sold off 10,091 shares of Super Micro Computer’s stock with a total value of $2,815,408. These transactions demonstrate that corporate insiders currently hold approximately 14.50% of the company’s stock.
The information provided by these brokerages and insider activities contribute to a better understanding of Super Micro Computer’s current standing in terms of market performance and investor sentiment. Investors may find these reports useful for analyzing their positions or making informed decisions regarding SMCI stock based on expert opinions and insider movements within the company.