David E. Weigand Sells 67,000 Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) Stock

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) CFO David E. Weigand sold 67,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the completion of the sale, the chief financial officer now owns 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Super Micro Computer Stock Performance

Super Micro Computer stock traded down $1.23 during mid-day trading on Monday, hitting $40.09. The company had a trading volume of 37,804,120 shares, compared to its average volume of 72,141,928. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 20.13 and a beta of 1.36. Super Micro Computer, Inc. has a 12-month low of $17.25 and a 12-month high of $101.40. The company's fifty day moving average is $35.82 and its 200-day moving average is $35.79. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Equities research analysts predict that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

SMCI has been the topic of several research analyst reports. Northland Securities set a $59.00 target price on shares of Super Micro Computer in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a report on Tuesday, February 11th. Rosenblatt Securities reduced their target price on Super Micro Computer from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, Loop Capital reaffirmed a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $45.63.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds have recently modified their holdings of SMCI. Clear Creek Financial Management LLC purchased a new position in Super Micro Computer during the fourth quarter worth approximately $635,000. Nepsis Inc. acquired a new position in shares of Super Micro Computer during the 4th quarter worth approximately $13,625,000. Fifth Third Bancorp lifted its position in shares of Super Micro Computer by 1,476.6% during the 4th quarter. Fifth Third Bancorp now owns 12,266 shares of the company's stock valued at $374,000 after buying an additional 11,488 shares in the last quarter. Oxinas Partners Wealth Management LLC grew its stake in Super Micro Computer by 1,588.1% in the 4th quarter. Oxinas Partners Wealth Management LLC now owns 26,605 shares of the company's stock valued at $811,000 after acquiring an additional 25,029 shares during the period. Finally, Griffin Asset Management Inc. purchased a new stake in Super Micro Computer in the 4th quarter worth $931,000. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.