Super Micro Computer saw an improvement in its IBD SmartSelect Composite Rating Tuesday, from 93 to 97.
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The new rating is a sign the stock is outpacing 97% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they start a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Super Micro Computer is not currently near a proper buy zone. Look for the stock to form and break out of a new base.
One weak spot is the company's 72 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
The company reported a -53% earnings gain for Q3. Revenue growth came in at 19%, down from 55% in the previous quarter. The company's next quarterly report is expected on or around Aug. 5.
Super Micro Computer holds the No. 1 rank among its peers in the Computer-Hardware/Peripherals industry group. Dell Technologies Cl C and Logitech International are also among the group's highest-rated stocks.
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