Are Super Micro Computer Inc (NASDAQ: SMCI) Shares Ready For A Price Rise?

In the last trading session, 2.9 million Super Micro Computer Inc (NASDAQ:SMCI) shares changed hands as the company’s beta touched 1.18. With the company’s per share price at $304.60 changed hands at $16.01 or 5.55% during last session, the market valuation stood at $16.24B. SMCI’s last price was a discount, traded about -17.2% off its 52-week high of $357.00. The share price had its 52-week low at $69.02, which suggests the last value was 77.34% up since then. When we look at Super Micro Computer Inc’s average trading volume, we note the 10-day average is 3.01 million shares, with the 3-month average coming to 3.21 million.

Analysts gave the Super Micro Computer Inc (SMCI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.55. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 2 recommended SMCI as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Super Micro Computer Inc’s EPS for the current quarter is expected to be $4.51.

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Super Micro Computer Inc (NASDAQ:SMCI) trade information

Instantly SMCI was in green as seen at the end of in last trading. With action 19.08%, the performance over the past five days has been green. The jump to weekly highs of 305.89 on Monday, 11/20/23 added 5.55% to the stock’s daily price. The company’s shares are showing year-to-date upside of 271.01%, with the 5-day performance at 19.08% in the green. However, in the 30-day time frame, Super Micro Computer Inc (NASDAQ:SMCI) is 22.54% up. Looking at the short shares, we see there were 4.35 million shares sold at short interest cover period of 1.37 days.

The consensus price target for the stock as assigned by Wall Street analysts is $375.20, meaning bulls need an upside of 18.82% from its current market value. According to analyst projections, SMCI’s forecast low is $240.00 with $500.00 as the target high. To hit the forecast high, the stock’s price needs a -64.15% plunge from its current level, while the stock would need to tank 21.21% for it to hit the projected low.

Super Micro Computer Inc (SMCI) estimates and forecasts

Data shows that the Super Micro Computer Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 84.82% over the past 6 months, a 42.93% in annual growth rate that is considerably higher than the industry average of 18.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Super Micro Computer Inc will rise 38.30%, while the growth in revenue is estimated to hit 166.90% for the next quarter. Year-over-year growth is forecast to reach 47.50% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $2.74 billion. 5 analysts are of the opinion that Super Micro Computer Inc’s revenue for the quarter ending Mar 2024 will be $2.66 billion.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 66.82%. The 2023 estimates are for Super Micro Computer Inc earnings to increase by 49.38%, but the outlook for the next 5-year period is at 10.00% per year.

SMCI Dividends

Super Micro Computer Inc is expected to release its next quarterly earnings report between January 29 and February 02.

Super Micro Computer Inc (NASDAQ:SMCI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 13.08% of Super Micro Computer Inc shares while 81.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.48%. There are 81.25% institutions holding the Super Micro Computer Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 10.97% of the shares, roughly 5.47 million SMCI shares worth $1.36 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.67% or 4.83 million shares worth $1.2 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 1.43 million shares estimated at $391.63 million under it, the former controlled 2.86% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.80% of the shares, roughly 1.4 million shares worth around $347.92 million.

On Key

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