Barclays analyst George Wang CFA has maintained their neutral stance on SMCI stock, giving a Hold rating on November 5.
George Wang CFA’s rating is based on the recent developments surrounding Super Micro Computer. The company faced a setback with the resignation of its former auditor, which has led to a lack of audited financial statements. This situation raises concerns about the company’s financial transparency and reliability of its reported financial figures.
Given these uncertainties, George Wang CFA has rated the stock as a Hold. This rating suggests that while the company has potential, the unresolved issues with its financial auditing need to be addressed before making a stronger investment recommendation. Investors are advised to consider these factors carefully in their decision-making process.
Wang CFA covers the Technology sector, focusing on stocks such as Super Micro Computer, Flex, and Garmin. According to TipRanks, Wang CFA has an average return of 8.3% and a 57.81% success rate on recommended stocks.
In another report released on November 5, Goldman Sachs also assigned a Hold rating to the stock with a $67.50 price target.
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Super Micro Computer (SMCI) Company Description:
Super Micro Computer, Inc. manufactures servers and other computer products. The firm’s products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, networking, embedded, gaming, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack, and server management. The company was founded by Charles Liang, Yih-Shyan Liaw and Chiu-Chu Liu Liang in September 1993 and is headquartered in San Jose, CA.
