Super Micro Computer (NASDAQ:SMCI) Trading 5.1% Higher – Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 5.1% during mid-day trading on Friday . The stock traded as high as $47.80 and last traded at $46.21. Approximately 49,282,714 shares were traded during trading, a decline of 32% from the average daily volume of 72,428,737 shares. The stock had previously closed at $43.96.

Wall Street Analyst Weigh In

SMCI has been the topic of several recent research reports. The Goldman Sachs Group cut shares of Super Micro Computer from a “neutral” rating to a “sell” rating and decreased their target price for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Wedbush restated a “neutral” rating and set a $30.00 target price (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Barclays reissued an “equal weight” rating and issued a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reduced their price objective on shares of Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.25.

Super Micro Computer Price Performance

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 firm has a market capitalization of $27.54 billion, a P/E ratio of 23.17 and a beta of 1.36. The stock’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $35.06.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the stock in a transaction on 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 SEC, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. This trade represents a 78.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 over the last 90 days. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Woodline Partners LP boosted its position in Super Micro Computer by 1,946.1% during the 1st quarter. Woodline Partners LP now owns 618,768 shares of the company’s stock valued at $21,187,000 after acquiring an additional 588,526 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Super Micro Computer in the 1st quarter worth $275,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Super Micro Computer by 6.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,286 shares of the company’s stock worth $284,000 after purchasing an additional 478 shares in the last quarter. Clearline Capital LP acquired a new stake in shares of Super Micro Computer in the 1st quarter worth $11,670,000. Finally, Strait & Sound Wealth Management LLC boosted its position in shares of Super Micro Computer by 204.5% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,200 shares of the company’s stock worth $140,000 after purchasing an additional 18,000 shares in the last quarter. 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.