Super Micro Computer Falls 25% On Mixed Results (SMCI)

Shares of Super Micro Computer, Inc SMCI are trading down 25% at $10.12 per share on Wednesday afternoon. The day's trading range for shares of Super Micro Computer, Inc has been between $9.80 and $11.28 per share. Analysts covering the company's stock have a consensus price target of $21.50 per share. Volume of 3.2 million shares is nearly 14 times the daily average volume of 227,000 shares. Super Micro Computer, Inc (SMCI) released financial results on Tuesday after the market closed that failed to meet Wall Street estimates, while beating revenue estimates, when the company announced fiscal 4th quarter adjusted earnings of 21 cents per share, on revenue of $201.7 million. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 22 cents per share, on revenue of $199.02 million. Super Micro Computer, Inc forecast fiscal 1st quarter adjusted earnings in the range of 21 cents to 25 cents per share, on revenue of $200 million to $210 million. The company's president and chief executive officer Charles Liang said, “We have benefited by customers who took advantage of the newer technologies to improve their return on investment by investing in Supermicro technology which offers the best performance per watt, performance per dollar, performance per square foot, and the lowest total cost of ownership. We expect this trend to continue.” Read more from Benzinga's Company news.