Super Micro Computer (NASDAQ:SMCI) Trading Up 7.2% – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price rose 7.2% during trading on Tuesday . The company traded as high as $42.91 and last traded at $42.96. Approximately 16,434,984 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 71,930,535 shares. The stock had previously closed at $40.09.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James started coverage on shares of Super Micro Computer in a research note on Tuesday, May 13th. They set an “outperform” rating and a $41.00 price objective for the company. KGI Securities assumed coverage on shares of Super Micro Computer in a research note on Wednesday, May 7th. They issued a “neutral” rating for the company. Barclays restated an “equal weight” rating and set a $34.00 target price on shares of Super Micro Computer in a report on Tuesday, May 6th. Citigroup initiated coverage on Super Micro Computer in a research note on Tuesday, May 6th. They set a “neutral” rating and a $39.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.63.

Super Micro Computer Trading Up 6.6%

The stock has a market cap of $25.51 billion, a PE ratio of 21.49 and a beta of 1.36. The company has a 50 day moving average of $35.82 and a two-hundred day moving average of $35.79. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

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

Insider Activity at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 19,449 shares of the company’s stock, valued at $981,785.52. This trade represents a 78.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert L. Blair sold 19,460 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 204,473 shares of company stock worth $9,720,892 in the last three months. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eastern Bank purchased a new position in shares of Super Micro Computer in the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust lifted its stake 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 purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 893 shares during the last quarter. AlphaQuest LLC lifted its stake in Super Micro Computer by 233.0% during the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company’s stock worth $33,000 after purchasing an additional 762 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $33,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Company Profile

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.