Super Micro Computer, Inc. (NASDAQ:SMCI) shares are falling Friday after the company announced its third quarter earnings release date and did not provide preliminary estimates as it has done in the past.

The Details:

Investors are concerned that the lack of quarterly preliminary estimates may be a sign of worse-than-expected financial results for SMCI. 

Shares of semiconductor companies have been trading lower amid weakness in the technology sector and following ASML Holdings N.V.'s (NASDAQ:ASML) worse-than-expected earnings report. 

Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) also reported its quarterly results earlier this week and lowered its chip market outlook as it sees consumer weakness persisting which overshadowed its Q1 results.

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SMCI Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Super Micro Computer have an average 1-year price target of $991.93, representing an expected upside of 31.63%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. One analyst has a bearish recommendation on Super Micro Computer, while 10 analysts have bullish ratings. The street high price target from Loop Capital is $1500, while the street low from Susquehanna is $250.

SMCI Price Action: According to Benzinga Pro, Super Micro Computer shares are down 18.4% at $757.62 at the time of publication Friday.

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