Maxim analyst Nehal Chokshi named Super Micro Computer as his new Top Pick in Enterprise & Consumer Technology, saying that his checks and other data indicate the company's March quarter results and June quarter guidance should be roughly in-line with consensus. However, channel checks suggest that design activity has been especially strong, leading him to believe that current consensus estimates for FY18 will prove conservative, he tells investors. Chokshi has a Buy rating and $40 price target on Super Micro shares.

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KeyBanc initiated coverage of Supermicro with a Sector Weight rating and no price target. The shares are currently trading relatively inline with Supermicro's infrastructure peer group, the analyst tells investors in a research note. The firm says the company is well positioned to benefit from secular artificial intelligence growth trends provided its ability to deliver highly customized full IT solutions leveraging its in-house engineering design expertise based on latest technology. KeyBanc notes Supermicro is addressing a $141B total server addressable market in 2024, which is forecasted to grow to $187B by 2027, implying a three-year annual growth rate of 10%.