Super Micro Computer (NASDAQ:SMCI) Trading 3.4% Higher After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price shot up 3.4% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $931.21 and last traded at $913.00. 2,115,414 shares changed hands during trading, a decline of 79% from the average session volume of 9,869,750 shares. The stock had previously closed at $882.75.

SMCI has been the topic of a number of other reports. Wells Fargo & Company began coverage on shares of Super Micro Computer in a research note on Friday, February 16th. They set an "equal weight" rating and a $960.00 price objective on the stock. Bank of America lifted their price target on Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. Wedbush upped their price objective on Super Micro Computer from $250.00 to $530.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 30th. The Goldman Sachs Group initiated coverage on Super Micro Computer in a research note on Monday, March 4th. They issued a "neutral" rating and a $941.00 target price on the stock. Finally, Barclays boosted their target price on shares of Super Micro Computer from $691.00 to $961.00 and gave the stock an "overweight" rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $949.85.

Insider Buying and Selling

In other news, Director Sherman Tuan sold 5,000 shares of the business's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the sale, the director now directly owns 22,113 shares of the company's stock, valued at $19,326,319.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sherman Tuan sold 5,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the transaction, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Don W. Clegg sold 28,727 shares of the business's 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 sale, the senior vice president now owns 2,110 shares in the company, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Insiders sold 34,989 shares of company stock worth $30,113,681 in the last three months. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new stake in shares of Super Micro Computer in the 3rd quarter valued at $25,000. Allworth Financial LP acquired a new stake in Super Micro Computer during the 3rd quarter worth about $27,000. Optimum Investment Advisors acquired a new stake in Super Micro Computer during the 4th quarter worth about $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Super Micro Computer during the 4th quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 84.06% of the company's stock.

Super Micro Computer Stock Up 10.6 %

The stock has a market cap of $54.60 billion, a PE ratio of 76.21, a P/E/G ratio of 0.80 and a beta of 1.28. The business has a 50 day moving average price of $946.77 and a 200 day moving average price of $539.27. The company has a quick ratio of 1.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings data on Monday, January 29th. The company reported $5.59 EPS for the quarter, topping the consensus estimate of $4.94 by $0.65. The business 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 business's quarterly revenue was up 103.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.09 EPS. Equities research analysts expect that Super Micro Computer, Inc. will post 20.24 EPS for the current fiscal year.

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.