BlackRock Fund Advisors recently announced the acquisition of new stake in Super Micro Computer Inc (NASDAQ:SMCI). The institutional investor has increased its shareholding in the Technology company by 1.97% to 4.93 million shares with purchase of 95254.0 shares. This fresh investment now brings its stake to 9.24% valued currently at $1.35 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.23 million to 1.75 million shares. And Geode Capital Management LLC has lifted its position by 3.97% or 38391.0 shares – to 1.01 million shares.
With over 6.63 million Super Micro Computer Inc (SMCI) shares trading Tuesday and a closing price of $343.73 on the day, the dollar volume was approximately $2.28 billion. The shares have shown a positive half year performance of 26.86% and its price on 01/09/24 gained nearly 7.32%. Currently, there are 52.90M common shares owned by the public and among those 46.75M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for SMCI have a consensus price objective of $367.33. The analysts have set the share’s price value over the next 12 months at a high of $500.00 and a low of $160.00. The average price target is 6.42% above its recent price level and a downside to the estimated low will see the stock lose -114.83% over that period. But an upside of 31.25% will see the stock hit the forecast high price target while median target price for the stock is $400.00.
Insiders at the company have transacted a total of 151 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 67 of these insider trades were purchases, accounting for 277,663 shares. Insider sales of the common stock occurred on 84 occasions, with total insider shares sold totaling 201,402 shares.
The top 3 mutual fund holders in Super Micro Computer Inc are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 1.41 million shares of the company’s stock, all valued at over $385.22 million. The company bought an additional 250.0 shares recently to bring their total holdings to about 2.64% of the shares outstanding. Vanguard Total Stock Market ETF bought 1702.0 shares to see its total holdings expand to 1.4 million shares valued at over $383.12 million and representing 2.63% of the shares outstanding. Vanguard Small Cap Index Fund bought 4894.0 shares to bring its total holdings to over 1.16 million shares at a value of $316.0 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.17% of the shares outstanding.
Shares of Super Micro Computer Inc (NASDAQ: SMCI) opened at $318.33, down -$1.95 from a prior closing price of $320.28. However, the script later moved the day high at 349.18, up 7.32%. The company’s stock has a 5-day price change of 20.42% and 18.53% over the past three months. SMCI shares are trading 20.92% year to date (YTD), with the 12-month market performance up to 307.31% higher. It has a 12-month low price of $69.02 and touched a high of $357.00 over the same period. SMCI has an average intraday trading volume of 3.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.83%, 23.96%, and 44.31% respectively.
Institutional ownership of Super Micro Computer Inc (NASDAQ: SMCI) shares accounts for 67.38% of the company’s 52.90M shares outstanding. Mutual fund holders own 35.15%, while other institutional holders and individual stakeholders account for 35.19% and 16.67% respectively.
It has a market capitalization of $19.09B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 31.72, while the earnings-per-share (ttm) stands at $10.84. The company has a PEG of 3.17 and a Quick Ratio of 0.95 with the debt-to-equity ratio at 0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.94% over the week and 5.50% over the month.
Analysts forecast that Super Micro Computer Inc (SMCI) will achieve an EPS of $4.52 for the current quarter, $4.3 for the next quarter and $19.45 for 2025. The lowest estimate earnings-per-share for the quarter is $4.31 while analysts give the company a high EPS estimate of $4.7. Comparatively, EPS for the current quarter was $3.26 a year ago. Earnings per share for the fiscal year are expected to increase by 47.21%, and 15.50% over the next financial year. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 66.82% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Super Micro Computer Inc (SMCI) as a “Strong Buy” at a consensus score of 1.67. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 12 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the SMCI, a number of firms have released research notes about the stock. Susquehanna stated their Negative rating for the stock in a research note on December 11, 2023, with the firm’s price target at $240-$160.
