Super Micro Computer (NASDAQ:SMCI) Trading Up 5% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) rose 5% during mid-day trading on Thursday . The company traded as high as $34.73 and last traded at $34.54. Approximately 14,522,825 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 72,156,677 shares. The stock had previously closed at $32.90.

Wall Street Analyst Weigh In

SMCI has been the topic of a number of analyst reports. Northland Securities set a $70.00 price objective on Super Micro Computer in a report on Thursday, March 6th. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of Super Micro Computer from $45.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Cfra upgraded 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 research note on Tuesday, February 11th. Finally, StockNews.com raised shares of Super Micro Computer to a "sell" rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $51.67.

Super Micro Computer Stock Up 2.2 %

The company's fifty day simple moving average is $38.37 and its 200 day simple moving average is $36.06. The firm has a market capitalization of $22.12 billion, a PE ratio of 18.71 and a beta of 1.22. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insider Activity

In related news, CEO Charles Liang sold 46,293 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock valued at $6,771,552 in the last ninety days. 17.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of large investors have recently modified their holdings of SMCI. Vanguard Group Inc. raised its holdings in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company's stock valued at $1,889,531,000 after acquiring an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Super Micro Computer by 914.7% during the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock worth $390,572,000 after purchasing an additional 11,580,677 shares in the last quarter. FMR LLC acquired a new position in Super Micro Computer in the 4th quarter valued at $292,869,000. Invesco Ltd. lifted its holdings in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after purchasing an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Super Micro Computer by 1,573.8% during the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.