Super Micro Computer (NASDAQ:SMCI) Stock Price Up 2% - What's Next?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares were up 2% on Wednesday . The stock traded as high as $44.72 and last traded at $44.06. Approximately 14,575,800 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 71,326,100 shares. The stock had previously closed at $43.19.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SMCI shares. Wedbush reiterated a "neutral" rating and issued a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of 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. Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Mizuho set a $40.00 price objective on Super Micro Computer and gave the company a "neutral" rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group downgraded Super Micro Computer from a "neutral" rating to a "sell" rating and cut their price objective for the company from $40.00 to $32.00 in a research note on Monday, March 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $45.63.

Super Micro Computer Stock Down 7.6%

The company has a fifty day moving average of $36.29 and a two-hundred day moving average of $36.61. The company has a market cap of $24.33 billion, a PE ratio of 20.47 and a beta of 1.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. Super Micro Computer's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. This trade represents a 43.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.60% of the stock is currently owned by insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in Super Micro Computer by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock valued at $854,000 after purchasing an additional 302 shares in the last quarter. Fairscale Capital LLC boosted its holdings in 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 acquiring an additional 317 shares in the last quarter. Wahed Invest LLC boosted its holdings in 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 acquiring an additional 352 shares in the last quarter. Horizon Investments LLC boosted its holdings in Super Micro Computer by 5.2% in the first quarter. Horizon Investments LLC now owns 7,234 shares of the company's stock worth $248,000 after acquiring an additional 355 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Super Micro Computer by 32.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,590 shares of the company's stock worth $54,000 after acquiring an additional 394 shares in 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.