Super Micro Computer (SMCI) PT, Estimates Raised at Needham & Company on 'Very Strong' Q3

Needham & Company analyst Glenn Hanus boosted estimates and his price target on Buy-rated Super Micro Computer (NASDAQ: SMCI) from $23 to $26 on 'very strong' Q3 and outlook.

Hanus comments, "SMCI reported a very strong F3Q with rev. and EPS above Street on solid results across geos and with noted strength in USA and in the IDC vertical. Taiwan factory utilization reached 50% vs. 41% on solid Asian deal flow. We are raising our estimates as demand appears solid, Ivy Bridge is ramping, and new product momentum appears to be on track (FatTwin, storage, MicroCloud, GPU, Phi, switches). SMCI maintained its 3-6 mo. target model (GM 16-18%, 6-8% OpM; vs. 15.4% GM in F3Q) and provided F4Q rev./ EPS guide above consensus. We are raising our estimates and price target to $26 (was $23)."

The firm raised FY 2014 EPS from $1.20 to $1.32 and FY 2015 EPS from $1.47 to $1.57.

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 $18.95 yesterday.

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