Fintel reports that on September 18, 2024, Needham initiated coverage of Super Micro Computer (NasdaqGS:SMCI) with a Buy recommendation.
Analyst Price Forecast Suggests 104.20% Upside
As of August 25, 2024, the average one-year price target for Super Micro Computer is $897.21/share. The forecasts range from a low of $328.25 to a high of $1,575.00. The average price target represents an increase of 104.20% from its latest reported closing price of $439.38 / share.
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The projected annual revenue for Super Micro Computer is 8,525MM, a decrease of 42.95%. The projected annual non-GAAP EPS is 12.89.
What is the Fund Sentiment?
There are 1,813 funds or institutions reporting positions in Super Micro Computer. This is an increase of 161 owner(s) or 9.75% in the last quarter. Average portfolio weight of all funds dedicated to SMCI is 0.45%, an increase of 27.93%. Total shares owned by institutions decreased in the last three months by 7.91% to 35,160K shares. 
The put/call ratio of SMCI is 0.87, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,573K shares representing 2.69% ownership of the company. In its prior filing, the firm reported owning 1,548K shares , representing an increase of 1.57%. The firm decreased its portfolio allocation in SMCI by 19.86% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 1,292K shares representing 2.21% ownership of the company. In its prior filing, the firm reported owning 1,269K shares , representing an increase of 1.82%. The firm decreased its portfolio allocation in SMCI by 21.79% over the last quarter.
Geode Capital Management holds 1,250K shares representing 2.13% ownership of the company. In its prior filing, the firm reported owning 1,547K shares , representing a decrease of 23.75%. The firm decreased its portfolio allocation in SMCI by 37.85% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,189K shares representing 2.03% ownership of the company. In its prior filing, the firm reported owning 1,243K shares , representing a decrease of 4.48%. The firm decreased its portfolio allocation in SMCI by 15.29% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 1,066K shares representing 1.82% ownership of the company. In its prior filing, the firm reported owning 1,070K shares , representing a decrease of 0.35%. The firm decreased its portfolio allocation in SMCI by 16.55% over the last quarter.
Super Micro Computer Background Information
(This description is provided by the company.)
Supermicro, the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Enterprise Data Center, Cloud Computing, Artificial Intelligence, and Edge Computing Systems worldwide. Supermicro is committed to protecting the environment through its 'We Keep IT Green®' initiative and provides customers with the most energy-efficient, environmentally-friendly solutions available on the market.
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This story originally appeared on Fintel.
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