Super Micro Computer (SMCI) is Upgraded by DA Davidson to Buy, Raises Price Target to $ 32

Super Micro Computer (SMCI) was Upgraded by DA Davidson to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 32 from a previous price target of $25 . Earlier the firm had a rating of “Neutral ” on the company shares. DA Davidson advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Super Micro Computer. Company shares were Reiterated by Maxim Group on Sep 23, 2016 to “Buy”, Firm has raised the Price Target to $ 34 from a previous price target of $30 .

On the company’s financial health, Super Micro Computer reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.19. The company had revenue of $529.00 million for the quarter, compared to analysts expectations of $503.64 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS.

Super Micro Computer closed down -0.25 points or -0.95% at $26.1 with 2,41,714 shares getting traded on Tuesday. Post opening the session at $26.3, the shares hit an intraday low of $26 and an intraday high of $26.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Nov 22, 2016, Cheng-hsien Phidias Chou (VP Worldwide Sales) sold 500 shares at $26.31 per share price. According to the SEC, on Nov 21, 2016, Howard Hideshima (Chief Financial Officer) sold 20,314 shares at $25.57 per share price. On Nov 15, 2016, Hwei-ming Fred Tsai (director) sold 5,000 shares at $25.75 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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