Super Micro Computer (NASDAQ:SMCI) Shares Up 1.2% on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded up 1.2% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $35.00 to $46.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Super Micro Computer traded as high as $54.15 and last traded at $53.86. 11,997,445 shares traded hands during trading, a decline of 82% from the average session volume of 68,117,154 shares. The stock had previously closed at $53.22.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Mizuho increased their price target on Super Micro Computer from $40.00 to $47.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Wedbush reiterated a "buy" rating on shares of Super Micro Computer in a research note on Wednesday, June 25th. Needham & Company LLC reiterated a "buy" rating and issued a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Finally, Barclays reiterated an "equal weight" rating and issued a $34.00 price target on shares of Super Micro Computer in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $42.89.

Insider Transactions at Super Micro Computer

In other news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the transaction, the chief financial officer directly owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Liang Chiu-Chu Sara Liu 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 value of $13,500,000.00. Following the completion of the transaction, the director directly owned 66,903,640 shares of the company's stock, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 667,000 shares of company stock valued at $29,949,340. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Several hedge funds have recently bought and sold shares of the company. Hartford Investment Management Co. increased its stake in Super Micro Computer by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 30,976 shares of the company's stock valued at $1,518,000 after purchasing an additional 235 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Super Micro Computer by 46.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company's stock valued at $39,000 after buying an additional 252 shares during the last quarter. Garde Capital Inc. grew its holdings in Super Micro Computer by 42.1% during the 2nd quarter. Garde Capital Inc. now owns 1,013 shares of the company's stock valued at $50,000 after buying an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 302 shares during the last quarter. Finally, Fairscale Capital LLC grew its holdings in Super Micro Computer by 13.3% during the 1st quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock valued at $92,000 after buying an additional 317 shares during the last quarter. 84.06% of the stock is owned by hedge funds and other institutional investors.

Super Micro Computer Trading Down 0.9%

The business has a fifty day simple moving average of $44.08 and a 200 day simple moving average of $38.95. The stock has a market cap of $31.48 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.43 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.95 and a current ratio of 6.66.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analysts' expectations 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 was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, equities analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current 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.

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