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Super Micro (SMCI) Moves 5.1% Higher: Will This Strength Last?
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Super Micro Computer (SMCI - Free Report) shares ended the last trading session 5.1% higher at $21.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 36.7% loss over the past four weeks.
The stock’s rebound appears to have followed news of board member Yih-Shyan Liaw’s resignation, alongside earlier reports of potential U.S. export-control scrutiny, which had previously contributed to a sharp decline of about 33% in SMCI’s share price.
This server technology company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +103.2%. Revenues are expected to be $12.34 billion, up 168.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Super Micro, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SMCI going forward to see if this recent jump can turn into more strength down the road.
Super Micro belongs to the Zacks Computer- Storage Devices industry. Another stock from the same industry, Western Digital (WDC - Free Report) , closed the last trading session 0.6% higher at $294.79. Over the past month, WDC has returned 2.7%.
For Western Digital, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.34. This represents a change of +72.1% from what the company reported a year ago. Western Digital currently has a Zacks Rank of #1 (Strong Buy).
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Super Micro (SMCI) Moves 5.1% Higher: Will This Strength Last?
Super Micro Computer (SMCI - Free Report) shares ended the last trading session 5.1% higher at $21.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 36.7% loss over the past four weeks.
The stock’s rebound appears to have followed news of board member Yih-Shyan Liaw’s resignation, alongside earlier reports of potential U.S. export-control scrutiny, which had previously contributed to a sharp decline of about 33% in SMCI’s share price.
This server technology company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +103.2%. Revenues are expected to be $12.34 billion, up 168.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Super Micro, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SMCI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Super Micro belongs to the Zacks Computer- Storage Devices industry. Another stock from the same industry, Western Digital (WDC - Free Report) , closed the last trading session 0.6% higher at $294.79. Over the past month, WDC has returned 2.7%.
For Western Digital, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.34. This represents a change of +72.1% from what the company reported a year ago. Western Digital currently has a Zacks Rank of #1 (Strong Buy).