Super Micro Computer (NASDAQ:SMCI) Shares Up 13.8% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shot up 13.8% on Tuesday . The stock traded as high as $38.34 and last traded at $38.16. 38,239,279 shares were traded during trading, a decline of 47% from the average session volume of 71,684,623 shares. The stock had previously closed at $33.52.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SMCI. Barclays reissued an "equal weight" rating and set a $34.00 price objective on shares of Super Micro Computer in a report on Tuesday, May 6th. Raymond James began coverage on Super Micro Computer in a research note on Tuesday. They issued an "outperform" rating and a $41.00 price objective on the stock. Northland Securities set a $59.00 price objective on Super Micro Computer in a research note on Wednesday, May 7th. StockNews.com raised Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Finally, Citigroup began coverage on 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $45.25.

Super Micro Computer Trading Up 15.2%

The stock has a market cap of $23.04 billion, a PE ratio of 19.38 and a beta of 1.36. The firm has a 50-day simple moving average of $35.26 and a 200-day simple moving average of $35.00. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

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, topping analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. Equities analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Insider Activity

In related news, CEO Charles Liang sold 46,293 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the sale, the chief executive officer now directly owns 67,403,640 shares of the company's stock, valued at $3,381,640,618.80. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. 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. 17.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Several large investors have recently made changes to their positions in SMCI. Czech National Bank lifted its holdings in shares of Super Micro Computer by 963.7% during the fourth quarter. Czech National Bank now owns 109,175 shares of the company's stock valued at $3,328,000 after purchasing an additional 98,911 shares during the last quarter. Brookstone Capital Management increased its position in shares of Super Micro Computer by 930.2% during the fourth quarter. Brookstone Capital Management now owns 6,995 shares of the company's stock valued at $213,000 after acquiring an additional 6,316 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Super Micro Computer during the fourth quarter valued at approximately $43,000. Salem Investment Counselors Inc. bought a new stake in shares of Super Micro Computer during the fourth quarter valued at approximately $30,000. Finally, Clean Yield Group bought a new stake in shares of Super Micro Computer during the fourth quarter valued at approximately $46,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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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