What's Going On With Super Micro Computer Inc Stock?

Super Micro Computer, Inc. SMCI shares are trading higher Friday after the company said it expects to exceed its prior second-quarter financial guidance.

What To Know:

Super Micro Computer announced updated financial guidance for the second-quarter after the market close on Thursday. The company said it estimates second-quarter net sales will be between $3.6 billion and $3.65 billion, versus the previous guidance of between $2.7 billion and $2.9 billion.

The company also raised its guidance for non-GAAP diluted net income per common share to between $5.40 and $5.55, versus the prior forecast of between $4.40 to $4.88.

Super Micro Computer attributed the increase in expected results to a robust market and end-customer demand for its rack-scale, AI and Total IT Solutions.

Barclays analyst George Wang maintained Super Micro Computer with an Overweight and raised the price target from $335 to $396, and Wedbush analyst Matt Bryson reiterated Super Micro Computer with a Neutral and maintained $250 price target after the company updated its guidance.

The company is set to release its second-quarter financial results after the market close on Jan. 29 and will host a conference call to discuss the results at 5:00 p.m. ET the same day.

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SCMI Price Action: According to Benzinga Pro, Super Micro Computer shares are up 30% at $405.00 at the time of publication.

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