Maxim Group Reiterates Their Buy Rating on Super Micro Computer (SMCI)


Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Super Micro Computer (NASDAQ: SMCI) today and set a price target of $50. The company’s shares closed yesterday at $18.35.

Chokshi said:

“Transition of SMCI shares to trading on pink sheets imminent, but additional disclosures make us believe the transition will prove temporary. Revenue growth accelerates to 37% y/y, net income growth to 100%+ y/y. Large enterprise continues to do well, which is at the crux of our mid- to long- term positive investment thesis on SMCI (see Page 3). Midpoint guidance implies 20%+ y/y growth on difficult comparison (see Page 3) Reiterating Buy rating and 12-month price target of $50.”

According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 17.1% and a 64.7% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Vuzix Corporation.

Currently, the analyst consensus on Super Micro Computer is a Moderate Buy with an average price target of $50.

See today’s analyst top recommended stocks >>

The company has a one-year high of $27.90 and a one-year low of $16.10. Currently, Super Micro Computer has an average volume of 380.1K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Super Micro Computer, Inc. manufactures servers and other computer products. The firm’s products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, networking, embedded, gaming, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack, and server management.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts