Super Micro Computer (NASDAQ:SMCI) Shares Up 2.4% - Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares were up 2.4% on Wednesday . The company traded as high as $48.08 and last traded at $48.32. Approximately 9,430,254 shares traded 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 Analyst Weigh In

A number of research analysts have weighed in on SMCI shares. Raymond James Financial started coverage on shares of Super Micro Computer in a research note on Wednesday, June 25th. They issued an "outperform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $39.00 price objective on shares of Super Micro Computer in a report on Wednesday, May 7th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $40.00 to $32.00 in a report on Monday, March 24th. Wedbush reiterated a "buy" rating on shares of Super Micro Computer in a report on Wednesday, June 25th. Finally, KGI Securities started coverage on shares of Super Micro Computer in a report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $46.06.

Super Micro Computer Stock Performance

The firm has a market capitalization of $28.95 billion, a price-to-earnings ratio of 25.52 and a beta of 1.43. The stock's fifty day moving average is $41.42 and its two-hundred day moving average is $37.99. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its 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. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction dated 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 owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Liang sold 300,000 shares of Super Micro Computer stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 667,000 shares of company stock valued at $29,949,340. Company insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TrueWealth Advisors LLC boosted its holdings in shares of Super Micro Computer by 33.2% during the 2nd quarter. TrueWealth Advisors LLC now owns 11,399 shares of the company's stock worth $559,000 after buying an additional 2,840 shares during the period. Garde Capital Inc. boosted its holdings in Super Micro Computer by 42.1% in the 2nd quarter. Garde Capital Inc. now owns 1,013 shares of the company's stock valued at $50,000 after purchasing an additional 300 shares during the period. McAlister Sweet & Associates Inc. bought a new stake in Super Micro Computer in the 2nd quarter valued at about $299,000. Rowlandmiller & PARTNERS.ADV boosted its holdings in Super Micro Computer by 6.7% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 91,213 shares of the company's stock valued at $4,470,000 after purchasing an additional 5,688 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Super Micro Computer by 19.0% in the 1st quarter. Inspire Investing LLC now owns 74,395 shares of the company's stock valued at $2,547,000 after purchasing an additional 11,864 shares during the period. Institutional investors 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.