Super Micro Computer (NASDAQ:SMCI) Shares Down 1.4%

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) fell 1.4% during trading on Wednesday . The stock traded as low as $962.00 and last traded at $963.00. 3,445,492 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 9,846,510 shares. The stock had previously closed at $976.30.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SMCI. Northland Securities lifted their price target on Super Micro Computer from $925.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Monday, March 25th. Bank of America lifted their price target on Super Micro Computer from $1,040.00 to $1,280.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. Argus began coverage on Super Micro Computer in a research report on Wednesday, March 6th. They issued a "buy" rating and a $1,350.00 price target on the stock. The Goldman Sachs Group began coverage on Super Micro Computer in a research report on Monday, March 4th. They issued a "neutral" rating and a $941.00 price target on the stock. Finally, Rosenblatt Securities lifted their price target on Super Micro Computer from $700.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Super Micro Computer has an average rating of "Moderate Buy" and an average target price of $949.85.

Super Micro Computer Stock Down 1.7 %

The business has a 50-day simple moving average of $952.30 and a two-hundred day simple moving average of $542.21. The stock has a market capitalization of $53.70 billion, a P/E ratio of 74.95, a PEG ratio of 0.78 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.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts' consensus estimates of $4.94 by $0.65. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $2.80 billion. During the same period in the prior year, the business posted $3.09 earnings per share. The business's revenue was up 103.0% compared to the same quarter last year. Equities research analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of the business's stock in a transaction on Wednesday, February 14th. The stock was 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 owns 2,110 shares of the company's stock, valued at $1,845,342.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Sherman Tuan sold 5,000 shares of the company's stock in a transaction 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 transaction, the director now owns 22,113 shares of the company's stock, valued at $19,326,319.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Don W. Clegg sold 28,727 shares of the company's stock in a transaction on 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 in the company, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,989 shares of company stock valued at $30,113,681. 17.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in Super Micro Computer by 56,764.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company's stock valued at $375,818,000 after buying an additional 1,319,768 shares during the period. William Blair Investment Management LLC acquired a new position in Super Micro Computer in the third quarter valued at about $140,751,000. Millennium Management LLC lifted its stake in Super Micro Computer by 379.5% in the second quarter. Millennium Management LLC now owns 609,315 shares of the company's stock valued at $24,586,000 after buying an additional 482,230 shares during the period. Envestnet Asset Management Inc. lifted its stake in Super Micro Computer by 4,603.3% in the first quarter. Envestnet Asset Management Inc. now owns 471,840 shares of the company's stock valued at $826,000 after buying an additional 461,808 shares during the period. Finally, Norges Bank acquired a new position in Super Micro Computer in the fourth quarter valued at about $95,211,000. Institutional investors and hedge funds own 84.06% of the company's stock.

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.