5 Best-Performing Tech Stocks of 2022

2. Super Micro Computer, Inc. (NASDAQ:SMCI)

Number of Hedge Fund Holders: 25

YTD Share Price Gain as of September 15: 46.48%

Super Micro Computer, Inc. (NASDAQ:SMCI) is a California-based company that develops and manufactures high-performance server and storage solutions based on modular and open architecture. After posting market-beating FQ4 results, the company laid out guidance for the fiscal year 2023 ending June 30, 2023. Super Micro Computer, Inc. (NASDAQ:SMCI) expects net sales of $6.2 billion to $7.0 billion, GAAP net income per diluted share of at least $7.27, and non-GAAP net income per diluted share of at least $7.50. Meanwhile, the consensus EPS estimate for FY2023 is $6.41 and consensus revenue estimate is $6.17 billion. The stock has climbed about 46.5% YTD as of September 15. 

Susquehanna analyst Mehdi Hosseini on August 12 raised the price target on Super Micro Computer, Inc. (NASDAQ:SMCI) to $88 from $70 and maintained a Positive rating on the shares. The analyst said the company posted another beat in the June quarter and he noted that it is gaining market share from the bigger competitors. Super Micro Computer, Inc. (NASDAQ:SMCI) can potentially gain an extra 50-100bps in margins as its Taiwan facility ramps, but the analyst remains cautious about the near-term.

Among the hedge funds tracked by Insider Monkey, David Brown’s Hawk Ridge Management held the leading stake in Super Micro Computer, Inc. (NASDAQ:SMCI) at the end of June 2022, comprising 1.5 million shares worth $59.3 million. Overall, 25 hedge funds were bullish on Super Micro Computer, Inc. (NASDAQ:SMCI) in Q2 2022, up from 16 funds in the preceding quarter.