Super Micro Computer (NASDAQ:SMCI) Shares Up 2.4% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) rose 2.4% on Wednesday . The company traded as high as $48.08 and last traded at $48.32. Approximately 9,430,254 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 69,175,251 shares. The stock had previously closed at $47.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SMCI shares. Barclays restated an "equal weight" rating and issued a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday, May 6th. KGI Securities started coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Mizuho set a $40.00 price target on shares of Super Micro Computer and gave the company a "neutral" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Finally, Rosenblatt Securities reduced their price target on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $45.63.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The firm has a market capitalization of $29.09 billion, a P/E ratio of 25.64 and a beta of 1.43. The stock's 50 day moving average is $40.93 and its two-hundred day moving average is $37.78.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.01. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. Super Micro Computer's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. As a group, equities analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles Liang sold 300,000 shares of the business'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 sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the sale, the chief financial officer directly owned 88,599 shares of the company's stock, valued at $3,900,127.98. The trade was a 43.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 667,000 shares of company stock valued at $29,949,340 over the last ninety days. Insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

A number of large investors have recently added to or reduced their stakes in the company. Eastern Bank acquired a new stake in shares of Super Micro Computer during the 1st quarter worth about $29,000. Parkside Financial Bank & Trust increased its position in Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock worth $30,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC increased its position in Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares during the period. AlphaQuest LLC increased its position in Super Micro Computer by 233.0% during the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after acquiring an additional 762 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in Super Micro Computer during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 84.06% of the company's stock.

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.