In a report released today, Nehal Chokshi from Northland Securities maintained a Buy rating on Super Micro Computer (SMCI), with a price target of $50.00. The company’s shares closed last Tuesday at $36.58.
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 20.6% and a 60.7% success rate. Chokshi covers the Technology sector, focusing on stocks such as Palo Alto Networks, Avid Technology, and PROS Holdings.
Currently, the analyst consensus on Super Micro Computer is a Strong Buy with an average price target of $46.33, implying a 25.3% upside from current levels. In a report released today, Susquehanna also reiterated a Buy rating on the stock with a $44.00 price target.
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Based on Super Micro Computer’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $830 million and net profit of $27.67 million. In comparison, last year the company earned revenue of $871 million and had a net profit of $23.71 million.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SMCI in relation to earlier this year. Last month, Charles Liang, the President & CEO of SMCI bought 50,000 shares for a total of $929,500.
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. The company was founded by Charles Liang, Yih-Shyan Liaw and Chiu-Chu Liu Liang in September 1993 and is headquartered in San Jose, CA.
