Super Micro Computer (NASDAQ:SMCI) Price Target Raised to $46.00

Super Micro Computer (NASDAQ:SMCI - Get Free Report) had its price objective boosted by analysts at JPMorgan Chase & Co. from $35.00 to $46.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 12.79% from the stock's previous close.

SMCI has been the topic of several other reports. Rosenblatt Securities cut their target price on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Raymond James Financial began coverage on Super Micro Computer in a report on Wednesday, June 25th. They set an "outperform" rating for the company. Finally, Bank of America began coverage on Super Micro Computer in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.89.

Super Micro Computer Price Performance

Shares of Super Micro Computer stock traded down $0.47 during midday trading on Thursday, hitting $52.75. 27,691,227 shares of the company were exchanged, compared to its average volume of 68,180,195. The firm has a market cap of $31.48 billion, a P/E ratio of 27.86, a PEG ratio of 2.43 and a beta of 1.43. The firm has a 50 day simple moving average of $44.08 and a 200-day simple moving average of $38.95. Super Micro Computer has a 52 week low of $17.25 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. Research analysts forecast that Super Micro Computer will post 1.86 earnings per share for the current year.

Insider Activity

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of Super Micro Computer stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the completion of the transaction, the director directly owned 66,903,640 shares in the company, valued at approximately $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Liang sold 300,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the transaction, the chief executive officer owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 667,000 shares of company stock valued at $29,949,340 in the last 90 days. 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 SMCI. Eastern Bank purchased a new stake in shares of Super Micro Computer during the first quarter worth about $29,000. AlphaQuest LLC increased its holdings in shares of Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after purchasing an additional 762 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in Super Micro Computer during the fourth quarter valued at approximately $33,000. Quarry LP bought a new stake in shares of Super Micro Computer in the fourth quarter worth $34,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of Super Micro Computer in the 1st quarter worth approximately $34,000. Hedge funds and other 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.

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