UPDATE: Wunderlich Securities Initiates Super Micro Computer at Buy on Execution

Wunderlich Securities initiated its coverage on Super Micro Compute

with a Buy rating and a $17 price target. Wunderlich Securities noted, "As demand for high-performance computing continues to outpace that of the broader server market, we believe SMCI's broad-based portfolio uniquely positions it as a primary beneficiary of this trend. We believe the stock's recent decline off April highs is largely the result of a number of external issues that have now been largely resolved, in our opinion, presenting investors with an attractive opportunity to acquire shares at current levels." Super Micro Compute closed at $12.43 on Monday.