Super Micro Computer (NASDAQ:SMCI) Releases Q2 Earnings Guidance

Super Micro Computer (NASDAQ:SMCI) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.56-0.65 for the period, compared to the consensus earnings per share estimate of $0.81. The company issued revenue guidance of $5.5-6.1 billion, compared to the consensus revenue estimate of $6.84 billion. Super Micro Computer also updated its Q1 guidance to $0.75-0.76 EPS.

Super Micro Computer Trading Down 18.1 %

Shares of NASDAQ:SMCI traded down $5.00 during trading on Wednesday, reaching $22.70. The company’s stock had a trading volume of 122,525,106 shares, compared to its average volume of 80,941,602. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. Super Micro Computer has a 12 month low of $20.20 and a 12 month high of $122.90. The stock has a market capitalization of $12.70 billion, a PE ratio of 11.40 and a beta of 1.28. The firm’s 50 day simple moving average is $43.36 and its two-hundred day simple moving average is $65.69.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.14). The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.32 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business’s revenue for the quarter was up 142.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts predict that Super Micro Computer will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cfra reiterated a “hold” rating and issued a $45.40 target price (down previously from $72.90) on shares of Super Micro Computer in a research note on Wednesday, August 28th. Barclays reduced their price objective on shares of Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday. Finally, Bank of America downgraded shares of Super Micro Computer from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $109.00 to $70.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Super Micro Computer has an average rating of “Hold” and an average target price of $66.89.

Super Micro Computer Company Profile

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.