Super Micro Computer's (SMCI) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Super Micro Computer (NASDAQ:SMCI - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a $39.00 price objective on the stock.

A number of other research analysts have also issued reports on SMCI. Northland Securities set a $70.00 target price on Super Micro Computer in a report on Thursday, March 6th. Citigroup assumed coverage on shares of Super Micro Computer in a research note on Tuesday, May 6th. They set a "neutral" rating and a $39.00 price target on the stock. Wedbush reiterated a "hold" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Mizuho set a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday, May 6th. Finally, Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.53.

Super Micro Computer Trading Down 0.3 %

NASDAQ SMCI traded down $0.09 during trading hours on Wednesday, reaching $32.02. The company had a trading volume of 31,372,163 shares, compared to its average volume of 71,876,853. The stock has a 50-day moving average of $35.37 and a 200 day moving average of $35.17. 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 has a 1-year low of $17.25 and a 1-year high of $101.40. The stock has a market capitalization of $19.11 billion, a P/E ratio of 16.07 and a beta of 1.36.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same period in the previous year, the firm posted $0.66 EPS. Super Micro Computer's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts anticipate that Super Micro Computer will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In other news, CEO Charles Liang sold 46,293 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP George Kao sold 71,720 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the sale, the senior vice president now owns 19,449 shares of the company's stock, valued at approximately $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,473 shares of company stock valued at $6,771,552. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Super Micro Computer by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock valued at $854,000 after acquiring an additional 302 shares during the last quarter. Wahed Invest LLC raised its position in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock valued at $377,000 after purchasing an additional 352 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Super Micro Computer by 0.3% during the 1st quarter. Victory Capital Management Inc. now owns 162,589 shares of the company's stock worth $5,567,000 after buying an additional 457 shares during the period. Shelton Capital Management grew its stake in Super Micro Computer by 6.5% in the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company's stock valued at $240,000 after buying an additional 480 shares during the last quarter. Finally, IMG Wealth Management Inc. raised its holdings in Super Micro Computer by 90.7% in the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock worth $36,000 after acquiring an additional 500 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

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.