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

Number of Hedge Fund Holders: 47 

Super Micro Computer, Inc. (NASDAQ:SMCI) develops and manufactures high performance server and storage solutions based on modular and open architecture. The share price of the company has registered a steep drop since it announced earlier this week that it would not be able to complete a 10-K regulatory filing on time. However, the company sought to ease investor concerns regarding accounting irregularities in a statement released yesterday. In the press release, the management said that it did not expect any material changes to the numbers for the 2024 fiscal year despite not being able to file the report on time.

Following the confirmation of a delayed filing from Super Micro Computer, Inc. (NASDAQ:SMCI), several analysts on Wall Street have revised their ratings on the stock. Bank of America recently moved the rating on Supermicro to Under Review, noting that the delay in filing and any potential internal control findings from the review leads to more uncertainty, leaving the advisory unable to assess the fundamentals of Supermicro.

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