FY2024 Earnings Forecast for Super Micro Computer, Inc. (NASDAQ:SMCI) Issued By Wedbush

Super Micro Computer, Inc. (NASDAQ:SMCI) – Investment analysts at Wedbush raised their FY2024 EPS estimates for Super Micro Computer in a report issued on Wednesday, May 1st. Wedbush analyst M. Bryson now forecasts that the company will post earnings per share of $21.01 for the year, up from their prior estimate of $19.61. Wedbush currently has a “Neutral” rating and a $800.00 target price on the stock. The consensus estimate for Super Micro Computer’s current full-year earnings is $21.11 per share. Wedbush also issued estimates for Super Micro Computer’s Q4 2024 earnings at $7.64 EPS, Q1 2025 earnings at $6.65 EPS, Q2 2025 earnings at $8.84 EPS, Q3 2025 earnings at $8.98 EPS, Q4 2025 earnings at $10.04 EPS and FY2025 earnings at $34.53 EPS.

A number of other brokerages have also commented on SMCI. KeyCorp began coverage on shares of Super Micro Computer in a research report on Wednesday, April 24th. They set a “sector weight” rating on the stock. JPMorgan Chase & Co. began coverage on shares of Super Micro Computer in a research note on Monday, March 25th. They set an “overweight” rating and a $1,150.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group lowered their target price on shares of Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Moderate Buy” and a consensus price target of $954.38.

Super Micro Computer Stock Performance

Shares of NASDAQ:SMCI opened at $819.29 on Monday. The firm has a market cap of $45.82 billion, a PE ratio of 45.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The firm’s 50 day simple moving average is $945.42 and its 200-day simple moving average is $590.67. Super Micro Computer has a one year low of $131.06 and a one year high of $1,229.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.29 and a current ratio of 4.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Advisors LLC purchased a new position in Super Micro Computer during the 1st quarter worth $2,034,000. Thoroughbred Financial Services LLC boosted its holdings in shares of Super Micro Computer by 12.8% in the first quarter. Thoroughbred Financial Services LLC now owns 4,093 shares of the company’s stock valued at $4,134,000 after acquiring an additional 465 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Super Micro Computer in the first quarter valued at about $230,000. Montag A & Associates Inc. boosted its holdings in shares of Super Micro Computer by 42.2% in the first quarter. Montag A & Associates Inc. now owns 1,773 shares of the company’s stock valued at $1,791,000 after acquiring an additional 526 shares in the last quarter. Finally, Retirement Solution Inc. purchased a new stake in shares of Super Micro Computer in the first quarter valued at about $267,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Liang Chiu-Chu Sara Liu sold 525 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $869.62, for a total value of $456,550.50. Following the sale, the director now directly owns 3,459 shares in the company, valued at approximately $3,008,015.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Liang Chiu-Chu Sara Liu sold 525 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $869.62, for a total value of $456,550.50. Following the transaction, the director now directly owns 3,459 shares of the company’s stock, valued at approximately $3,008,015.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sherman Tuan sold 5,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the transaction, the director now directly owns 22,113 shares in the company, valued at $19,326,319.74. The disclosure for this sale can be found here. Insiders have sold a total of 34,252 shares of company stock worth $29,950,223 in the last ninety days. 17.60% of the stock is owned by corporate insiders.

About Super Micro Computer

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.