Super Micro Computer (NASDAQ:SMCI) Trading Up 7.5% – Time to Buy?

by · The Cerbat Gem

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report)’s stock price traded up 7.5% on Tuesday . The stock traded as high as $40.00 and last traded at $39.68. 32,216,790 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 77,248,875 shares. The stock had previously closed at $36.90.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. Loop Capital reissued a “buy” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. StockNews.com raised Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Finally, Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Super Micro Computer currently has an average rating of “Hold” and a consensus target price of $52.57.

Get Our Latest Stock Report on SMCI

Super Micro Computer Price Performance

The company has a market cap of $23.19 billion, a P/E ratio of 19.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The company has a fifty day simple moving average of $37.65 and a 200-day simple moving average of $38.18.

Insider Transactions at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the sale, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock valued at $6,771,552 over the last three months. Company insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after buying an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC boosted its position in Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after acquiring an additional 11,580,677 shares during the period. FMR LLC purchased a new position in Super Micro Computer during the 4th quarter valued at about $292,869,000. Invesco Ltd. increased its holdings in shares of Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock valued at $229,903,000 after purchasing an additional 6,810,082 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

About Super Micro Computer

(Get Free Report)

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.

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