Super Micro Computer, Inc.
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Range $36 – $48
Price Chart
About the company
Super Micro Computer, Inc. , together with its subsidiaries, develops and sells server and storage solutions based on modular and open-standard architecture in the United States, Asia, Europe, and internationally. The company provides liquid and air-cooled AI servers for training and inferencing with integrated graphics processing units (GPUs) or PCIe based architectures; SuperBlade, MicroBlade, FlexTwin, GrandTwin, and BigTwin blade and multi-node systems; SuperStorage systems; Hyper, CloudDC, and WIO and rackmount systems; embedded (5G/IoT/Edge) systems; and MicroCloud server systems.
- CEO
- Charles Liang
- IPO
- 2007
- Employees
- 7,000
- HQ
- San Jose, CA, US
AI snapshot
Six angles, distilled from the data.
The stock is in a strong multi-month recovery regime, trading above its 50-day and 200-day moving averages after a deep 52-week drawdown. It remains well below the 52-week high, so the setup is constructive but still rebuilding from a volatile reset.
Wall Street leans cautious-to-neutral: the consensus is Hold with 9 Buys, 14 Holds, and 2 Sells. The target cluster has moved up, with a consensus around $42.33 and recent raises to $43, $42, and $48, suggesting improving sentiment without a full rerating.
The next print follows a strong beat streak, including a 189.3% EPS surprise last quarter and three straight beats before that. Estimates point higher, with FY2027 EPS at $4.34 versus $2.80 for FY2026, so shareholders should watch whether demand and margins keep scaling into the guide.
Recent insider flow leans negative on discretionary activity, led by repeated open-market sales from the CEO and a director/10% owner. The award and exempt entries look routine compensation or tax-related noise, but the clustered P-S sales signal insiders have been taking chips off the table.
Profitability is solid but not pristine: gross margin is 10.8% and net margin is 5.7%, while ROE stands at 21.47%. Growth remains the main draw, with revenue up 93.2% year over year and EPS growth up 434.7%, though free cash flow was deeply negative at -$6.65 billion in fiscal 2026.
SMCI wins on AI-server exposure and modular rack-scale systems, where its liquid- and air-cooled designs fit training and inference demand. The market still values it at a modest 11.69x earnings, below many high-growth hardware peers, but the discount reflects execution and cash-flow risk.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $27.07B
- P/E
- 11.72
- Fwd P/E
- 9.65
- PEG
- 0.06
- P/S
- 0.71
- P/B
- 1.78
- EV/EBITDA
- 8.73
- Div Yield
- 0.00%
- Gross Margin
- 10.82%
- Op Margin
- 7.09%
- Net Margin
- 5.71%
- ROE
- 25.08%
- ROIC
- 9.73%
Latest fiscal year · YoY change
- Revenue
- $39.06B+77.8%
- Gross Profit
- $4.23B+74.0%
- Op Income
- $2.77B
- Net Income
- $2.23B+112.7%
- EPS
- $3.65+106.2%
- OCF Growth
- -510.4%
- FCF Growth
- -555.0%
- 52W High
- $58.51
- 52W Low
- $19.48
- 50D MA
- $37.72
- 200D MA
- $32.27
- Beta
- 2.01
- RSI (14)
- 54
- Avg Volume
- 44.75M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Super Micro reported a record fiscal 2026, with revenue nearly doubling and margins expanding sharply in Q4 on a mix shift and lower tariffs, while guiding Q1 FY27 and full-year FY27 to continued rapid growth.· August 11, 2026
- FY26 revenue was $39.1 billion, up 78% year over year, and non-GAAP EPS was $3.63, up 76% from FY25.
- Q4 revenue was $11.1 billion, up 93% year over year, with non-GAAP gross margin of 17.6% and non-GAAP EPS of $1.70.
- Management said over $60 billion of new orders drove backlog to record levels, and FY27 revenue is targeted at $65 billion to $72 billion.
- Q1 FY27 guidance calls for $14.5 billion to $15.5 billion of revenue and gross margin of 10.4% to 10.8%.
- The company highlighted a shift toward enterprise, CPU-based AI, storage, and DCBBS, with management saying these areas should support better long-term margins.
Super Micro said FY26 revenue was $39.1 billion, up 78% from $22 billion in FY25, and FY26 non-GAAP diluted EPS was $3.63, up 76% from $2.06. FY26 non-GAAP gross margin was 10.9% versus 11.2% last year, and FY26 non-GAAP operating margin was 8.1% versus 7.1%. In Q4 FY26, revenue was $11.1 billion, up 93% year over year and 9% quarter over quarter; non-GAAP gross margin was 17.6% versus 10.1% in Q3; and non-GAAP diluted EPS was $1.70, versus guidance of $0.65 to $0.79. Q4 GAAP diluted EPS was $1.62. For Q1 FY27, management guided to revenue of $14.5 billion to $15.5 billion, GAAP EPS of $0.89 to $0.98, non-GAAP EPS of $1.01 to $1.10, and gross margin of 10.4% to 10.8%. Full-year FY27 revenue guidance was $65 billion to $72 billion.
Charles Liang framed FY26 as a milestone year and said Super Micro is evolving from a server maker into a total AI/data center solution provider through its DCBBS platform. He emphasized that demand remains strong, backlog is at record levels, and the company is expanding enterprise, CPU, storage, networking, and service offerings to improve mix and long-term profitability. His tone was confident and upbeat, but he repeatedly stressed that growth must remain healthy and margin-aware.
David Weigand emphasized the hard numbers: FY26 revenue of $39.1 billion, Q4 revenue of $11.1 billion, Q4 non-GAAP gross margin of 17.6%, and FY26 non-GAAP EPS of $3.63. He said Q4 gross margin improved 750 basis points sequentially, with about 75% of the improvement from better customer/product mix and about 25% from lower tariff costs and lower inventory reserves. He also noted $747 million of operating cash flow in Q4, $7.5 billion of cash and cash equivalents at quarter-end, net debt of $1.2 billion, and the $5.6 billion equity financing to support working capital for new orders. For Q1 FY27, he guided to 10.4% to 10.8% gross margin, about $453 million of GAAP operating expenses, and $50 million to $60 million of CapEx.
Analysts pressed on whether Q4’s margin step-up was sustainable, and management said the mix shift toward enterprise, CPU, storage, and DCBBS should support higher margins over time, though Q1 guidance still reflects a lower mix than Q4. Multiple questions focused on customer concentration, large data center/CSP demand, and whether customers are bypassing Super Micro for ODMs; management said shipment delays were tied to power, cooling, and networking readiness, not a structural demand issue, and said Super Micro’s OEM/ODM model still gives it room to grow. Investors also asked about the board investigation and cash needs; management said an update would come shortly, and said the stronger balance sheet plus improved backlog terms should support growth, though Charles Liang said higher revenue levels like $80 billion or above could require more cash flow.
The call showed very strong demand momentum, with over $60 billion in new orders and FY27 revenue guidance of $65 billion to $72 billion. Management is also seeing a favorable mix shift toward enterprise, CPU-based AI, storage, and DCBBS, which they said should improve profitability over time. The company ended Q4 with $7.5 billion of cash and said its financing and backlog should support the next phase of growth.
Q4 revenue came in near the low end of guidance because of customer delays tied to power, cooling, and networking readiness, and management acknowledged some contracts slipped into later quarters. Q1 gross margin guidance of 10.4% to 10.8% is well below the 17.6% Q4 level, showing that the recent margin spike may not repeat immediately. The company also flagged ongoing inventory and working-capital risk, said the board inquiry update is still pending, and noted that growth above the $65 billion to $72 billion range could require additional cash flow or financing.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 87.1%
- Shares Outstanding
- 646.87M
- Float Shares
- 563.39M
of shares held by institutions
900 13F filers
Buy/sell ratio 0.63. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for SMCI, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Ro KhannaHouse · CA17 | Sell | Jan 13, 26 | Filing → |
| John BoozmanSenate · AR | Buy | Dec 11, 25 | Filing → |
| John BoozmanSenate · AR | Sell | Dec 31, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Nov 12, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Sep 5, 25 | Filing → |
| Tim MooreHouse · NC14 | Sell | May 2, 25 | Filing → |
| Tim MooreHouse · NC14 | Buy | Apr 30, 25 | Filing → |
| Julie JohnsonHouse · TX32 | Sell | Apr 1, 25 | Filing → |
| Robert P. BresnahanHouse · PA08 | Sell | Apr 8, 25 | Filing → |
| Ashley Brooke MoodySenate | Sell | Mar 25, 25 | Filing → |
| Ashley Brooke MoodySenate | Buy | Mar 25, 25 | Filing → |
| Ashley Brooke MoodySenate | Sell | Mar 25, 25 | Filing → |
| Ashley Brooke MoodySenate | Sell | Mar 25, 25 | Filing → |
| Ashley Brooke MoodySenate | Sell | Mar 24, 25 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 68.03M | ▼ 816.73K |
| Blackrock, Inc. | 47.69M | ▲ 4.33M |
| Vanguard Capital Management LLC | 36.36M | ▲ 3.46M |
| Vanguard Portfolio Management LLC | 32.86M | ▲ 3.30M |
| Jane Street Group, LLC | 28.79M | ▲ 24.37M |
| State Street Corp | 24.64M | ▲ 2.62M |
| Ubs Group AG | 19.69M | ▲ 7.62M |
| Geode Capital Management, LLC | 15.51M | ▲ 1.35M |
| Invesco Ltd. | 11.72M | ▼ 96.39K |
| Goldman Sachs Group Inc | 11.09M | ▲ 7.64M |
| Two Sigma Investments, LP | 9.78M | ▲ 8.88M |
| Morgan Stanley | 9.05M | ▲ 1.38M |
Held by 1,349 ETFs
Biggest fund positions in SMCI by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Oct 7, 26 | Liu Liang Chiu-Chu Sara | sell | 100,000 |
| Oct 7, 26 | Liang Charles | sell | 100,000 |
| Sep 3, 26 | Liang Charles | sell | 42,565 |
| Sep 3, 26 | Liang Charles | sell | 57,435 |
| Sep 4, 26 | Liang Charles | sell | 100,000 |
| Sep 3, 26 | Liu Liang Chiu-Chu Sara | sell | 42,565 |
| Sep 3, 26 | Liu Liang Chiu-Chu Sara | sell | 57,435 |
| Sep 4, 26 | Liu Liang Chiu-Chu Sara | sell | 100,000 |
| Aug 27, 26 | WEIGAND DAVID E | other | 24,093 |
| Aug 27, 26 | Malyala Vikranth | other | 8,060 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our SMCI coverage
Recent articles, reports, and earnings notes.

Super Micro Computer (SMCI): AI Growth vs. Cash-Flow Risk
Super Micro Computer is scaling rapidly on AI infrastructure demand, but weak cash conversion, dilution, and margin volatility keep the stock in Hold territory. The report sees upside potential, yet the risk profile justifies a cautious stance.

Super Micro’s margin shock just changed the SMCI debate
Super Micro’s latest update was not a revenue story. The real shock was gross margin jumping to 15%–17% from prior guidance of 8.2%–8.4%, a reset that says the market has been underestimating SMCI’s earnings power.

Super Micro Computer, Inc. (SMCI) climbs on AI orders, margins
Super Micro Computer, Inc. (SMCI) climbs after a business update showed more than $60B in new orders and a better gross margin outlook. The move highlights continued AI infrastructure demand and improving profitability, two factors that could support a rerating if the gains hold into regular trading.
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Super Micro contractor pleads guilty in scheme to divert AI servers with Nvidia chips to China
reuters.com · Oct 9
Supermicro Appoints Shesha Krishnapura to Board of Directors as an Independent Director and Announces the Retirement of Judy Lin
businesswire.com · Oct 8
Can Super Micro Computer Sustain Its AI Capex Momentum in 2027?
zacks.com · Oct 8
Super Micro Stock Plunges as AI Server Rally Hits a Speed Bump
gurufocus.com · Oct 8
Stocks Struggling With Tech Sector Headwinds
schaeffersresearch.com · Oct 8
Super Micro Drops 3% as Profit Taking Unwinds Server Rally; Dell and Hewlett Packard Enterprise Dip
247wallst.com · Oct 8
New Strong Buy Stocks for October 8th
zacks.com · Oct 8
Supermicro Has Record AI Demand. Here's What Matters Next
fool.com · Oct 8
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 10, 2026 · Live quote · Not investment advice