Maxim Group Downgrades Super Micro Computer (SMCI) to Hold

Maxim Group cut shares of Super Micro Computer (NASDAQ:SMCI) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat.com reports. Maxim Group currently has $50.00 price objective on the technology company’s stock.

“No verifiable facts from the quotes or passages summarizing conversations from 17 different anonymous sources within Bloomberg Businessweek (BBW) article. We believe AAPL’s read of BBW’s conclusions are accurate, but the level of detail, number of cross-reference checks BBW cites and credibility of BBW means we need to give some probability to the risk being unique to SMCI. 2017 10K filing delay continues to extend beyond what we have expected, adding additional concern for us (see Page 4). As such, we no longer feel reward to risk is highly asymmetric, downgrading to Hold (see Page 5).”,” the firm’s analyst commented.

Several other research firms have also recently issued reports on SMCI. BidaskClub cut shares of Super Micro Computer from a sell rating to a strong sell rating in a research report on Friday, August 3rd. DA Davidson decreased their target price on shares of Super Micro Computer to $14.00 and set a neutral rating on the stock in a research report on Wednesday, August 22nd. TheStreet cut shares of Super Micro Computer from a b- rating to a c+ rating in a research report on Friday, August 17th. Zacks Investment Research cut shares of Super Micro Computer from a strong-buy rating to a hold rating in a research report on Thursday, July 5th. Finally, ValuEngine cut shares of Super Micro Computer from a hold rating to a sell rating in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $25.75.

SMCI opened at $14.75 on Friday. Super Micro Computer has a 1 year low of $8.50 and a 1 year high of $27.15. The company has a market capitalization of $797.59 million, a P/E ratio of 11.01, a P/E/G ratio of 0.61 and a beta of 0.19.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Super Micro Computer by 5.6% in the second quarter. BlackRock Inc. now owns 5,305,712 shares of the technology company’s stock valued at $125,480,000 after buying an additional 279,868 shares during the period. Dimensional Fund Advisors LP raised its holdings in Super Micro Computer by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,693,893 shares of the technology company’s stock valued at $62,796,000 after buying an additional 107,330 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in Super Micro Computer by 51.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 3,510,405 shares of the technology company’s stock valued at $83,021,000 after buying an additional 1,192,788 shares during the period. Nokomis Capital L.L.C. purchased a new position in Super Micro Computer in the first quarter valued at approximately $13,124,000. Finally, Needham Investment Management LLC raised its holdings in Super Micro Computer by 0.7% in the second quarter. Needham Investment Management LLC now owns 674,750 shares of the technology company’s stock valued at $15,958,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 84.11% of the company’s stock.

Super Micro Computer Company Profile

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.

See Also: Return on Equity (ROE)

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