Super Micro Computer (NASDAQ:SMCI) Trading 3.6% Higher - Here's What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) rose 3.6% during trading on Monday . The company traded as high as $43.37 and last traded at $43.05. Approximately 9,381,698 shares were traded during trading, a decline of 87% from the average daily volume of 71,230,231 shares. The stock had previously closed at $41.55.

Analyst Ratings Changes

SMCI has been the topic of several recent analyst reports. Raymond James assumed coverage on shares of Super Micro Computer in a report on Tuesday, May 13th. They issued an "outperform" rating and a $41.00 price objective on the stock. Cfra upgraded shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Tuesday, February 11th. Citigroup assumed coverage on shares of Super Micro Computer in a report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 target price for the company. Wedbush restated a "neutral" rating and set a $30.00 target price (down from $40.00) on shares of Super Micro Computer in a report on Wednesday, May 7th. Finally, Mizuho set a $40.00 price target on shares of Super Micro Computer and gave the stock a "neutral" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Super Micro Computer currently has an average rating of "Hold" and an average target price of $45.63.

Super Micro Computer Stock Down 0.7%

The company has a market capitalization of $25.54 billion, a PE ratio of 21.43 and a beta of 1.40. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business's 50 day simple moving average is $36.71 and its 200 day simple moving average is $37.04.

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 for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. 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 prior year, the business earned $0.66 earnings per share. As a group, analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of Super Micro Computer stock in a transaction 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 transaction, the chief financial officer now directly owns 88,599 shares of the company's stock, valued at $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMCI. Wealth Quarterback LLC bought a new position in shares of Super Micro Computer in the fourth quarter worth about $435,000. New York Life Investment Management LLC lifted its holdings in shares of Super Micro Computer by 907.8% in the fourth quarter. New York Life Investment Management LLC now owns 67,585 shares of the company's stock worth $2,060,000 after acquiring an additional 60,879 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of Super Micro Computer in the fourth quarter worth about $209,000. US Bancorp DE lifted its holdings in shares of Super Micro Computer by 1,147.3% in the fourth quarter. US Bancorp DE now owns 28,863 shares of the company's stock worth $880,000 after acquiring an additional 26,549 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Super Micro Computer by 842.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,065 shares of the company's stock worth $723,000 after acquiring an additional 21,512 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company's stock.

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.