Super Micro Computer (SMCI) Releases Earnings Results, Beats Expectations By $0.04 EPS

Super Micro Computer (SMCI) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.16. The company posted revenue of $524.30 million in the period, compared to analysts expectations of $523.34 million. The company’s revenue was down -8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.

Many Wall Street Analysts have commented on Super Micro Computer. Super Micro Computer was Initiated by Pacific Crest to “Sector Weight” on Jul 28, 2016. Super Micro Computer was Downgraded by Stifel to ” Hold” on Jul 19, 2016. Shares were Reiterated by Needham on Jul 19, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $31 .

Super Micro Computer closed down -0.49 points or -2.27% at $21.07 with 3,78,988 shares getting traded on Tusday. Post opening the session at $21.59, the shares hit an intraday low of $20.95 and an intraday high of $21.66 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 2, 2016, Howard Hideshima (Chief Financial Officer) sold 20,312 shares at $26.20 per share price. According to the SEC, on May 25, 2016, Hwei-ming Fred Tsai (director) sold 10,000 shares at $25.16 per share price. On May 11, 2016, Cheng-hsien Phidias Chou (VP Worldwide Sales) sold 2,000 shares at $26.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Super Micro Computer Inc. offers server technology. The Company develops and provides end-to-end green computing solutions to the data center cloud computing enterprise information technology information technology (IT) big data high performance computing (HPC) and embedded markets. The Company’s solutions range from server storage blade and workstations to full racks networking devices server management software and technology support and services. It sells its server systems and server subsystems and accessories through a combination of distributors including value added resellers and system integrators and other equipment manufacturers (OEMs) as well as through its direct sales force. As of June 30 2015 the Company offered over 4550 stock keeping units (SKUs) including SKUs for server and storage systems serverboards chassis power supplies and other accessories. The Company develops and manufactures server solutions based upon a modular and open architecture.

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