Super Micro Computer, Inc. (NASDAQ:SMCI) has been on an upward trajectory, with its shares recently moving higher Monday. The stock's performance possibly reflects a series of financial and strategic developments.

In a strategic move, Super Micro’s board approved a 10-for-1 stock split, set to take effect on October 1 2024. The company also issued strong guidance for fiscal year 2025, projecting revenues between $26 billion and $30 billion. For the first quarter of fiscal 2025, Super Micro anticipates revenue between $6 billion and $7 billion, with EPS expected to range from $6.69 to $8.27.

Analysts Reaction: Analysts remain divided on Super Micro’s outlook, with price targets varying widely. While JP Morgan rated the stock “Overweight” with a target price of $950, Rosenblatt issued a “Buy” rating with an ambitious target of $1,300. On the other hand, B of A Securities downgraded its rating to “Neutral” with a price target of $700, reflecting some caution in the market.

What Else: Super Micro also announced its participation in several upcoming investor conferences. These include the Rosenblatt 4th Annual Virtual Tech Summit on August 19 2024, the Deutsche Bank 2024 Technology Conference on August 28 2024, Citi’s 2024 Global TMT Conference on September 4 2024 and the Goldman Sachs Communacopia + Technology Conference on September 9 2024.

SMCI Price Action: As of the latest update, SMCI shares have risen by 7.36%, trading at $546.20 according to Benzinga Pro.

See Also:

• What’s Going On With Super Micro Computer (SMCI) Stock?

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