On July 23, SUPER MICRO COMPUTER INC rose 5.15% in regular trading, trading at approximately $32.00 per share with turnover of $6.14 billion, extending the prior session's 25%-plus surge.
The continued momentum follows the company's preliminary business update, which raised fiscal Q4 gross margin guidance from 8.2%-8.4% to 15%-17%, nearly double the prior forecast, driven by a favorable customer and product mix. The company also disclosed new orders exceeding $60 billion for the quarter, pushing backlog to a record high, with deliveries expected over the coming quarters.
Multiple institutions subsequently adjusted their price targets. Needham raised its target to $46 from $40 while maintaining a Buy rating, and Barclays lifted its target to $38 from $34. Mizuho adjusted its target to $34 from $44 while maintaining a Neutral rating. Revenue for the quarter is expected near the low end of the $11 billion to $12.5 billion guidance range. The company is scheduled to hold its earnings call on August 11.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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