Fintel reports that on August 23, 2023, Wedbush upgraded their outlook for Super Micro Computer (NASDAQ:SMCI) from Underperform to Neutral.

Analyst Price Forecast Suggests 0.22% Downside

As of August 2, 2023, the average one-year price target for Super Micro Computer is 277.00. The forecasts range from a low of 65.65 to a high of $421.05. The average price target represents a decrease of 0.22% from its latest reported closing price of 277.60.

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The projected annual revenue for Super Micro Computer is 7,514MM, an increase of 5.48%. The projected annual non-GAAP EPS is 9.04.

What is the Fund Sentiment?

There are 887 funds or institutions reporting positions in Super Micro Computer. This is an increase of 156 owner(s) or 21.34% in the last quarter. Average portfolio weight of all funds dedicated to SMCI is 0.48%, an increase of 32.40%. Total shares owned by institutions decreased in the last three months by 7.29% to 43,650K shares. The put/call ratio of SMCI is 1.13, indicating a bearish outlook.

What are Other Shareholders Doing?

Disciplined Growth Investors holds 2,956K shares representing 5.63% ownership of the company. In it’s prior filing, the firm reported owning 3,967K shares, representing a decrease of 34.22%. The firm increased its portfolio allocation in SMCI by 53.26% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 1,441K shares representing 2.75% ownership of the company. In it’s prior filing, the firm reported owning 1,304K shares, representing an increase of 9.53%. The firm increased its portfolio allocation in SMCI by 37.31% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,419K shares representing 2.70% ownership of the company. In it’s prior filing, the firm reported owning 1,367K shares, representing an increase of 3.62%. The firm increased its portfolio allocation in SMCI by 24.34% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,193K shares representing 2.27% ownership of the company. In it’s prior filing, the firm reported owning 1,159K shares, representing an increase of 2.88%. The firm increased its portfolio allocation in SMCI by 28.25% over the last quarter.

Goldman Sachs Group holds 1,046K shares representing 1.99% ownership of the company. In it’s prior filing, the firm reported owning 742K shares, representing an increase of 29.12%. The firm decreased its portfolio allocation in SMCI by 12.53% 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.

This article originally appeared on Fintel

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