Super Micro Computer (NASDAQ:SMCI) Shares Up 7.5% – Here’s What Happened

by · The Markets Daily

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Free Report) traded up 7.5% on Tuesday . The company traded as high as $40.00 and last traded at $39.68. 32,216,790 shares were traded 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.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. Barclays initiated coverage on Super Micro Computer in a research report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 price target for the company. The Goldman Sachs Group upped their price target on Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities initiated coverage on Super Micro Computer in a research note on Monday. They set a “buy” rating and a $60.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and a consensus target price of $52.57.

Get Our Latest Stock Report on Super Micro Computer

Super Micro Computer Trading Up 11.0 %

The company has a market capitalization of $24.30 billion, a P/E ratio of 20.54 and a beta of 1.21. The company has a 50-day simple moving average of $37.20 and a 200 day simple moving average of $38.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Insider Buying and Selling

In other news, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 in the last quarter. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors and hedge funds have recently modified their holdings of SMCI. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer during the fourth quarter worth $30,000. Trust Co. of Vermont raised its stake in shares of Super Micro Computer by 900.0% in the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock valued at $30,000 after purchasing an additional 900 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company’s stock worth $30,000 after buying an additional 954 shares during the period. Larson Financial Group LLC grew its holdings in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock worth $30,000 after buying an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in Super Micro Computer in the 4th quarter valued at approximately $31,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Company Profile

(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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