Needham Reiterates Buy Rating on Super Micro Computer (SMCI)

Needham analyst N. Quinn Bolton reiterated a Buy rating and $40.00 price target on Super Micro Computer (NASDAQ: SMCI).

The analyst commented: "SMCI reported a top line miss but beat on the bottom line, driven by stronger GM, while guiding both revenue and EPS higher. Our key takeaways include: 1) GM came in well above our estimate, driven by a higher Enterprise mix (~28% of revenue vs. ~16% in F2Q) and improved Data Center GM; 2) the F3Q26 revenue miss was largely timing-driven due to customer site readiness delays and certain component shortages. We believe the majority of the shortfall is shifting into F4Q26, which was guided ~$1.75BN above our prior estimate; and 3) management indicated it has seen no change in vendor allocations following the DOJ indictment of former employees, with relationships remaining strong.

Our PT remains at $40, now based on 12x our new CY28 NG EPS estimate."

For an analyst ratings summary and ratings history on Super Micro Computer click here. For more ratings news on Super Micro Computer click here.

Shares of Super Micro Computer closed at $27.83 yesterday.

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