Super Micro Computer (NASDAQ:SMCI) Stock Price Up 4.8% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares rose 4.8% on Tuesday . The stock traded as high as $42.74 and last traded at $42.84. Approximately 29,509,539 shares were traded during trading, a decline of 58% from the average daily volume of 69,737,875 shares. The stock had previously closed at $40.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group cut Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $40.00 to $32.00 in a report on Monday, March 24th. Raymond James Financial initiated coverage on Super Micro Computer in a research report on Tuesday, May 13th. They set an "outperform" rating and a $41.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $39.00 price objective on shares of Super Micro Computer in a report on Wednesday, May 7th. Barclays reiterated an "equal weight" rating and issued a $34.00 target price on shares of Super Micro Computer in a research report on Tuesday, May 6th. Finally, Northland Securities set a $59.00 price target on shares of Super Micro Computer in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.63.

Super Micro Computer Trading Up 4.8%

The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $38.73 and a 200-day simple moving average of $37.37. The company has a market cap of $25.57 billion, a PE ratio of 22.54 and a beta of 1.40.

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 (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm 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 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 quarter in the previous year, the business earned $0.66 EPS. On average, analysts predict that Super Micro Computer, Inc. will post 1.86 EPS 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 transaction of $13,500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. This represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the sale, the chief financial officer now owns 88,599 shares of the company's stock, valued at $3,900,127.98. This represents a 43.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 667,000 shares of company stock worth $29,949,340. 17.60% of the stock is currently owned by company insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently made changes to their positions in SMCI. Eastern Bank purchased a new position in shares of Super Micro Computer during the first quarter worth about $29,000. Parkside Financial Bank & Trust raised its stake in shares of 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 purchasing an additional 954 shares during the last quarter. Larson Financial Group LLC grew its position in Super Micro Computer by 902.0% in the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after buying an additional 893 shares during the last quarter. AlphaQuest LLC raised its position in Super Micro Computer by 233.0% during the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after buying an additional 762 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Super Micro Computer in the 4th quarter worth $33,000. 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.