Super Micro Computer (NASDAQ:SMCI) Trading 1.6% Higher on Analyst Upgrade

Key Points

• Super Micro Computer's stock rose 1.6% after Barclays upgraded its price target from $29 to $45 while maintaining an equal weight rating.
• Insider activity included the CFO selling 67,000 shares, a decrease of 43.06% in their ownership, and a director selling 200,000 shares valued at $12 million.
• The company reported quarterly earnings of $0.41 EPS, missing estimates and showing a revenue of $5.76 billion, which was below expectations of $5.88 billion.

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price traded up 1.6% on Thursday after Barclays raised their price target on the stock from $29.00 to $45.00. Barclays currently has an equal weight rating on the stock. Super Micro Computer traded as high as $48.82 and last traded at $47.52. 21,759,877 shares changed hands during trading, a decline of 62% from the average session volume of 57,089,625 shares. The stock had previously closed at $46.79.

SMCI has been the topic of a number of other reports. Mizuho raised their price objective on Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Bank of America initiated coverage on shares of Super Micro Computer in a research report on Wednesday, July 9th. They issued an "underperform" rating and a $35.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Super Micro Computer from $39.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday. Wedbush reissued a "neutral" rating and set a $30.00 target price on shares of Super Micro Computer in a report on Monday. Finally, Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $44.75.

Insider Activity

In other news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total value 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. This represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 200,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $60.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director owned 40,426,120 shares in the company, valued at approximately $2,425,567,200. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,067,000 shares of company stock worth $53,949,340. 17.60% of the stock is currently owned by company insiders.

Institutional Trading of Super Micro Computer

Several institutional investors and hedge funds have recently bought and sold shares of SMCI. Blue Trust Inc. increased its position in Super Micro Computer by 16.1% during the 2nd quarter. Blue Trust Inc. now owns 1,557 shares of the company's stock valued at $76,000 after purchasing an additional 216 shares during the period. Hartford Investment Management Co. boosted its position in shares of Super Micro Computer by 0.8% in the 2nd quarter. Hartford Investment Management Co. now owns 30,976 shares of the company's stock worth $1,518,000 after purchasing an additional 235 shares in the last quarter. Securian Asset Management Inc. boosted its holdings in Super Micro Computer by 0.9% in the second quarter. Securian Asset Management Inc. now owns 26,834 shares of the company's stock worth $1,315,000 after acquiring an additional 246 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Super Micro Computer by 1.2% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 21,798 shares of the company's stock worth $1,068,000 after purchasing an additional 248 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Super Micro Computer by 46.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 800 shares of the company's stock valued at $39,000 after purchasing an additional 252 shares in the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Stock Up 1.6%

The company has a 50 day moving average price of $48.40 and a two-hundred day moving average price of $41.32. The stock has a market cap of $28.36 billion, a PE ratio of 28.63, a PEG ratio of 2.79 and a beta of 1.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.03). Super Micro Computer had a return on equity of 17.24% and a net margin of 4.77%. The business had revenue of $5.76 billion during the quarter, compared to analysts' expectations of $5.88 billion. During the same period in the previous year, the business posted $6.25 EPS. The business's quarterly revenue was up 8.5% compared to the same quarter last year. Analysts expect that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

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.

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