Super Micro Stock Is Dividing the Street. Why SMCI’s Great Run Is Under Threat

Dow Jones
02-18

Super Micro Computer Inc. had a stellar week—but that doesn’t mean the server maker is in the clear just yet after accounting issues have dragged on the stock.

Super Micro Computer stock rallied last week, but there’s still uncertainty about where shares are headed.Super Micro Computer stock rallied last week, but there’s still uncertainty about where shares are headed.

Shares, which trade under the ticker SMCI, are up 32% over the past five trading sessions. The benchmark S&P 500 index climbed just 1.5% over the same period. Stock and bond markets were closed for Presidents Day Monday.

The rally made SMCI the second-best S&P performer of 2025, trailing just behind Palantir Technologies. The stock jumped after the company issued a fiscal second quarter business update where its longer term sales guidance came in well above analysts’ expectations.

But that doesn’t mean the stock has made it out of the woods. Shareholders still have reason to fret about Super Micro’s accounting issues—it’s still yet to file its annual report ended June 30 2024, or its earnings for the quarter ended Sept. 30 2024.

SMCI said it “continues to work diligently” toward submitting the documents and “believes it will make such filings” by end of Tuesday next week—a deadline the company needs to meet, given the Nasdaq has threatened to delist the stock if it doesn’t file its reports by then.

Wall Street remains divided on Super Micro. Five of the nine analysts covering SMCI rate it as a Hold or Sell, according to data from FactSet, with a consensus price target of just over $41 that implies shares will slide about 14% from their current levels. Don’t expect that outlook to get any more concrete until the company can show shareholders it’s sorted its accounting issues.

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