Super Micro Computer Stock Set to Split on Tuesday, October 1st (NASDAQ:SMCI)

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock is scheduled to split on Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer Stock Down 12.2 %

NASDAQ:SMCI opened at $402.40 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company’s fifty day moving average price is $546.48 and its 200-day moving average price is $767.70. Super Micro Computer has a 1-year low of $226.59 and a 1-year high of $1,229.00. The firm has a market capitalization of $22.51 billion, a P/E ratio of 22.56 and a beta of 1.24.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share for the quarter, missing the consensus estimate of $7.63 by ($1.38). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the business posted $3.43 earnings per share. Super Micro Computer’s revenue for the quarter was up 142.9% on a year-over-year basis. As a group, equities research analysts anticipate that Super Micro Computer will post 28.5 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Super Micro Computer from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $950.00 to $500.00 in a research report on Friday, September 6th. Barclays cut Super Micro Computer from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $693.00 to $438.00 in a research report on Wednesday, September 4th. Nomura Securities cut Super Micro Computer from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Wells Fargo & Company lowered their price target on Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Finally, Mizuho initiated coverage on Super Micro Computer in a research report on Tuesday, September 17th. They issued a “neutral” rating and a $450.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $725.63.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of SMCI. Farmers & Merchants Investments Inc. raised its stake in Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock worth $25,000 after purchasing an additional 24 shares during the period. Moser Wealth Advisors LLC acquired a new stake in Super Micro Computer during the 2nd quarter worth approximately $25,000. FinTrust Capital Advisors LLC purchased a new position in Super Micro Computer in the 4th quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. grew its stake in shares of Super Micro Computer by 141.2% in the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock worth $34,000 after acquiring an additional 24 shares in the last quarter. Finally, Bank of New Hampshire acquired a new stake in shares of Super Micro Computer in the first quarter valued at $35,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.