Supermicro price target lowered to $25 from $42 at Barclays

Barclays lowered the firm’s price target on Supermicro (SMCI) to $25 from $42 and keeps an Equal Weight rating on the shares. The company missed on September quarter revenue and the December quarter revenue guidance implies low-single-digit quarter-over-quarter declines, the analyst tells investors in a research note. The firm says Supermicro still hasn’t provided timing for when it will file the annual report as it is looking for a new auditor. It expects the lack of clarity to put the stock under pressure near term with the “rising risk” of Supermicro not meeting Nasdaq’s listing requirements.