Super Micro Computer (NASDAQ:SMCI) Trading Up 11.9% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) was up 11.9% during mid-day trading on Wednesday . The stock traded as high as $34.99 and last traded at $34.23. Approximately 27,989,682 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 72,324,778 shares. The stock had previously closed at $30.58.

Analyst Upgrades and Downgrades

SMCI has been the topic of several research reports. Wedbush reaffirmed a "hold" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. The Goldman Sachs Group downgraded Super Micro Computer from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Barclays started coverage on Super Micro Computer in a research note on Thursday, February 27th. They issued an "equal weight" rating and a $59.00 price objective for the company. Loop Capital restated a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities initiated coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They issued a "buy" rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $51.67.

Super Micro Computer Price Performance

The stock has a market cap of $21.64 billion, a PE ratio of 18.31 and a beta of 1.22. The company has a 50-day simple moving average of $38.37 and a 200-day simple moving average of $36.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insider Activity

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Kao sold 71,720 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 in the last 90 days. 17.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Super Micro Computer

Several institutional investors have recently bought and sold shares of SMCI. Clear Creek Financial Management LLC purchased a new position in Super Micro Computer in the fourth quarter valued at about $635,000. Nepsis Inc. acquired a new stake in Super Micro Computer in the fourth quarter valued at approximately $13,625,000. Fifth Third Bancorp boosted its stake in shares of Super Micro Computer by 1,476.6% in the fourth quarter. Fifth Third Bancorp now owns 12,266 shares of the company's stock valued at $374,000 after purchasing an additional 11,488 shares during the period. Oak Thistle LLC purchased a new stake in Super Micro Computer during the 4th quarter worth $277,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Super Micro Computer during the fourth quarter valued at about $5,113,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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.