Super Micro Computer (NASDAQ:SMCI) Shares Up 3.9% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares were up 3.9% during mid-day trading on Wednesday . The company traded as high as $51.70 and last traded at $51.82. Approximately 9,317,606 shares were traded during trading, a decline of 86% from the average daily volume of 67,646,341 shares. The stock had previously closed at $49.86.

Analyst Ratings Changes

Several brokerages have issued reports on SMCI. JPMorgan Chase & Co. increased their price objective on shares of Super Micro Computer from $35.00 to $46.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America began coverage on shares of Super Micro Computer in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price objective for the company. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Barclays reaffirmed an "equal weight" rating and issued a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday, May 6th. Finally, Citigroup reiterated a "neutral" rating and issued a $52.00 price target (up previously from $37.00) on shares of Super Micro Computer in a research note on Friday, July 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer presently has an average rating of "Hold" and a consensus target price of $42.89.

Super Micro Computer Price Performance

The company has a market capitalization of $32.51 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 2.56 and a beta of 1.43. 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 business has a fifty day moving average price of $45.94 and a 200 day moving average price of $39.91.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a return on equity of 20.41% and a net margin of 5.61%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, research analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Charles Liang sold 300,000 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total value of $13,500,000.00. Following the transaction, the chief executive officer owned 66,903,640 shares in the company, valued at $3,010,663,800. This represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the company's stock in a transaction dated 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 owned 66,903,640 shares in the company, valued at $3,010,663,800. This represents a 0.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 667,000 shares of company stock worth $29,949,340 in the last 90 days. Company insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

A number of large investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. acquired a new stake in Super Micro Computer in the 1st quarter worth approximately $5,408,000. Gibraltar Capital Management Inc. acquired a new stake in shares of Super Micro Computer in the first quarter worth $205,000. Sequoia Financial Advisors LLC lifted its stake in shares of Super Micro Computer by 43.2% in the first quarter. Sequoia Financial Advisors LLC now owns 19,243 shares of the company's stock worth $659,000 after buying an additional 5,804 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Super Micro Computer by 561.3% during the 4th quarter. LPL Financial LLC now owns 675,605 shares of the company's stock worth $20,592,000 after buying an additional 573,439 shares during the period. Finally, Capital Advisors Inc. OK raised its holdings in Super Micro Computer by 39.8% in the 1st quarter. Capital Advisors Inc. OK now owns 47,251 shares of the company's stock worth $1,618,000 after acquiring an additional 13,451 shares during the period. 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.