Super Micro Computer (NASDAQ:SMCI) Shares Up 1.6% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price was up 1.6% on Tuesday . The stock traded as high as $34.59 and last traded at $33.65. Approximately 11,770,069 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 73,282,615 shares. The stock had previously closed at $33.12.

Wall Street Analysts Forecast Growth

SMCI has been the topic of a number of recent analyst reports. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and cut their target price for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Cfra upgraded 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. Finally, Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. Three equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.00.

Super Micro Computer Stock Up 1.0 %

The stock has a market capitalization of $19.85 billion, a PE ratio of 16.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The business has a 50 day moving average of $40.19 and a two-hundred day moving average of $36.76.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the transaction, the senior vice president now owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,473 shares of company stock valued at $6,771,552. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of SMCI. Salem Investment Counselors Inc. acquired a new position in shares of Super Micro Computer in the 4th quarter valued at about $30,000. Trust Co. of Vermont boosted its holdings in Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 900 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in 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 in the last quarter. Larson Financial Group LLC increased its holdings in Super Micro Computer by 902.0% in the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company’s stock valued at $30,000 after buying an additional 893 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in shares of Super Micro Computer in the fourth quarter worth about $31,000. Institutional investors and hedge funds 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.