Super Micro Computer (NASDAQ:SMCI) Stock Price Up 1.7% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded up 1.7% on Wednesday . The stock traded as high as $44.33 and last traded at $43.48. 20,049,280 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 72,351,604 shares. The stock had previously closed at $42.77.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SMCI shares. Barclays reiterated an "equal weight" rating and set a $34.00 price objective on shares of Super Micro Computer in a research report on Tuesday, May 6th. The Goldman Sachs Group cut shares of Super Micro Computer from a "neutral" rating to a "sell" rating and dropped their target price for the company from $40.00 to $32.00 in a research note on Monday, March 24th. StockNews.com upgraded shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Cfra raised shares of Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a report on Tuesday, February 11th. Finally, Wedbush reissued a "neutral" rating and issued a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $45.63.

Super Micro Computer Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a market cap of $26.02 billion, a P/E ratio of 22.00 and a beta of 1.36. The firm has a 50 day moving average of $35.80 and a two-hundred day moving average of $35.28.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $4.60 billion for 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%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, research analysts predict that Super Micro Computer, Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Charles Liang sold 46,293 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the transaction, the chief executive officer now owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This trade represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP George Kao sold 71,720 shares of the 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 sale, the senior vice president now owns 19,449 shares of the company's stock, valued at approximately $981,785.52. This represents a 78.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 over the last quarter. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Super Micro Computer during the fourth quarter valued at $2,542,000. Trust Co. of Vermont increased its stake in shares of Super Micro Computer by 900.0% during the fourth quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 900 shares during the period. Prairiewood Capital LLC bought a new stake in shares of Super Micro Computer during the 4th quarter valued at about $457,000. Oxinas Partners Wealth Management LLC raised its position in shares of Super Micro Computer by 1,588.1% in the 4th quarter. Oxinas Partners Wealth Management LLC now owns 26,605 shares of the company's stock worth $811,000 after acquiring an additional 25,029 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new position in Super Micro Computer during the fourth quarter valued at $2,011,000. Hedge funds and other institutional investors 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.

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