Susquehanna Cuts Price Target Following Super Micro Computer's (SMCI) 1Q Results

Susquehanna maintained a Positive rating on Super Micro Computer (NASDAQ: SMCI), and cut the price target to $35.00 (from $40.00), following the company's 1Q16 earnings results. Reported revenue and Non-GAAP EPS were in line with the Oct 8 negative preannouncement. However, revenue guidance was better than expected, though the midpoint of EPS guidance was a tad below SFG/consensus.

Analyst Mehdi
Hosseini commented, "Report was in-line with the negative preannouncement, while guidance came in above expectations. We are raising estimates, but applying a lower multiple to account for lumpiness, China strategy, and execution."

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 $25.49 yesterday.

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