Wedbush Reiterates Neutral Rating for Super Micro Computer (NASDAQ:SMCI)

Super Micro Computer (NASDAQ:SMCI)‘s stock had its “neutral” rating reissued by equities research analysts at Wedbush in a report issued on Wednesday, April 24th, Benzinga reports. They currently have a $530.00 price objective on the stock. Wedbush’s target price would indicate a potential downside of 27.20% from the company’s current price.

Other analysts also recently issued research reports about the company. Argus started coverage on Super Micro Computer in a report on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price objective on the stock. KeyCorp initiated coverage on shares of Super Micro Computer in a report on Wednesday, April 24th. They set a “sector weight” rating on the stock. Barclays raised their price objective on shares of Super Micro Computer from $691.00 to $961.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Wells Fargo & Company began coverage on shares of Super Micro Computer in a report on Friday, February 16th. They set an “equal weight” rating and a $960.00 price target for the company. Finally, The Goldman Sachs Group began coverage on Super Micro Computer in a report on Monday, March 4th. They set a “neutral” rating and a $941.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Super Micro Computer presently has an average rating of “Hold” and an average price target of $970.62.

Super Micro Computer Stock Performance

SMCI stock traded down $130.80 during mid-day trading on Wednesday, reaching $728.00. The company had a trading volume of 5,375,074 shares, compared to its average volume of 9,630,967. Super Micro Computer has a one year low of $101.71 and a one year high of $1,229.00. The stock has a market capitalization of $40.72 billion, a P/E ratio of 55.93, a P/E/G ratio of 0.79 and a beta of 1.28. The company has a quick ratio of 1.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $952.07 and its two-hundred day simple moving average is $576.78.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Monday, January 29th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $2.80 billion. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The company’s quarterly revenue was up 103.0% compared to the same quarter last year. During the same period last year, the company earned $3.09 earnings per share. Research analysts anticipate that Super Micro Computer will post 20.24 EPS for the current year.

Insider Transactions at Super Micro Computer

In other news, SVP Don W. Clegg sold 28,727 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the sale, the senior vice president now owns 2,110 shares in the company, valued at approximately $1,845,342.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total value of $25,123,772.39. Following the transaction, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sherman Tuan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the sale, the director now owns 22,113 shares of the company’s stock, valued at $19,326,319.74. The disclosure for this sale can be found here. Insiders sold a total of 34,027 shares of company stock worth $29,655,672 in the last three months. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Institutional investors have recently bought and sold shares of the business. Hennessy Advisors Inc. raised its position in Super Micro Computer by 28.1% in the third quarter. Hennessy Advisors Inc. now owns 280,300 shares of the company’s stock valued at $76,864,000 after purchasing an additional 61,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Super Micro Computer in the third quarter valued at $55,943,000. Natixis Advisors L.P. lifted its holdings in Super Micro Computer by 31.4% in the third quarter. Natixis Advisors L.P. now owns 17,218 shares of the company’s stock valued at $4,722,000 after buying an additional 4,118 shares during the period. Shilanski & Associates Inc. boosted its position in Super Micro Computer by 2.7% during the fourth quarter. Shilanski & Associates Inc. now owns 5,103 shares of the company’s stock valued at $1,451,000 after acquiring an additional 134 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Super Micro Computer by 154.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,728 shares of the company’s stock worth $1,344,000 after acquiring an additional 2,870 shares during the period. Institutional investors own 84.06% of the company’s stock.

About Super Micro Computer

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.