Super Micro Computer (NASDAQ:SMCI) Shares Up 3.4% - Still a Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shot up 3.4% during mid-day trading on Tuesday . The stock traded as high as $48.73 and last traded at $48.69. 10,140,550 shares traded hands during trading, a decline of 85% from the average session volume of 68,955,886 shares. The stock had previously closed at $47.11.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMCI. Barclays reaffirmed an "equal weight" rating and set a $34.00 price objective on shares of Super Micro Computer in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wedbush restated a "buy" rating on shares of Super Micro Computer in a research report on Wednesday, June 25th. KGI Securities assumed coverage on Super Micro Computer in a research report on Wednesday, May 7th. They issued a "neutral" rating on the stock. Finally, Citigroup upped their price objective on Super Micro Computer from $37.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Super Micro Computer currently has an average rating of "Hold" and an average price target of $41.47.

Super Micro Computer Price Performance

The stock has a market capitalization of $29.53 billion, a price-to-earnings ratio of 26.07 and a beta of 1.43. The company has a 50 day moving average of $42.60 and a 200 day moving average of $38.46. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38.

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

Insider Buying and Selling at Super Micro Computer

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer owned 88,599 shares of the company's stock, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of the business'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 sale, the director directly owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. This trade represents a 0.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 667,000 shares of company stock valued at $29,949,340. Company insiders own 17.60% of the company's stock.

Institutional Investors Weigh In On Super Micro Computer

A number of institutional investors have recently added to or reduced their stakes in SMCI. Garde Capital Inc. boosted its position in shares of Super Micro Computer by 42.1% in the second quarter. Garde Capital Inc. now owns 1,013 shares of the company's stock worth $50,000 after buying an additional 300 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Super Micro Computer by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after buying an additional 302 shares during the period. Fairscale Capital LLC boosted its position in shares of Super Micro Computer by 13.3% in the first quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock worth $92,000 after buying an additional 317 shares during the period. Sovran Advisors LLC boosted its position in shares of Super Micro Computer by 3.7% in the second quarter. Sovran Advisors LLC now owns 9,703 shares of the company's stock worth $477,000 after buying an additional 345 shares during the period. Finally, Wahed Invest LLC boosted its position in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after buying an additional 352 shares during the period. Hedge funds and other institutional investors 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.