Why Super Micro Computer Shares Hit A New 52-Week High Today

Super Micro Computer, Inc. SMCI shares are trading higher by 14% to $81.89 Wednesday after the company reported better-than-expected third-quarter EPS and sales results.

What Happened?

Super Micro Computer reported quarterly earnings of $3.42 per share which beat the analyst consensus estimate of $2.36. The company also reported quarterly sales of $1.85 billion which beat the analyst consensus estimate of $1.61 billion by 15%. This is a 79% increase over sales of $1.03 billion in the same period last year.

"In Q1 fiscal 2023, our revenue reached a record $1.85 billion dollars, which makes it our 7^th consecutive quarter of accelerating YoY growth," said Charles Liang, Chairman and CEO, of Super Micro Computer.

According to data from Benzinga Pro, Super Micro Computer has a 52-week high of $85.95 and a 52-week low of $34.11.