Supermicro Inc. Stock Rises 7.3% Amid Nomura Downgrade to Neutral, $930 PT

Supermicro Inc. (SMCI) saw a significant increase in its stock price, rising 7.3% to over $900 per share, the highest level since June 21st. The sentiment on Stocktwits is 'neutral'. However, Nomura/Instinet has downgraded SMCI from Buy to Neutral, with a price target of $930. Analysts cited the company's strong guidance for CY4Q23-CY1Q24, suggesting that the performance potential has shifted from 'easy to beat low expectations' in CY4Q23 to 'less room to beat high expectations' in CY1Q24.