Super Micro Computer (NASDAQ:SMCI) Shares Up 2% - Here's Why

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) rose 2% during mid-day trading on Wednesday . The stock traded as high as $44.29 and last traded at $43.97. Approximately 8,439,124 shares traded hands during trading, a decline of 86% from the average daily volume of 60,457,129 shares. The stock had previously closed at $43.11.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Northland Securities set a $59.00 price objective on shares of Super Micro Computer in a research report on Wednesday, May 7th. Citigroup initiated coverage on Super Micro Computer in a research report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 price target for the company. Wall Street Zen upgraded Super Micro Computer to a "sell" rating in a research report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $39.00 price objective on shares of Super Micro Computer in a research note on Wednesday, May 7th. Finally, Mizuho set a $40.00 price objective on Super Micro Computer and gave the stock a "neutral" rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.63.

Super Micro Computer Price Performance

The company's 50-day moving average is $38.12 and its 200-day moving average is $37.40. The firm has a market capitalization of $26.54 billion, a price-to-earnings ratio of 23.39 and a beta of 1.40. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. Super Micro Computer's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. On average, research analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current 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 firm's 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 transaction, the chief financial officer now directly owns 88,599 shares of the company's stock, 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 through this hyperlink. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently made changes to their positions in the company. Eastern Bank acquired a new stake in shares of Super Micro Computer during the first quarter valued at about $29,000. Parkside Financial Bank & Trust raised its holdings in Super Micro Computer by 2,890.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after acquiring an additional 954 shares in the last quarter. Larson Financial Group LLC grew its holdings in Super Micro Computer by 902.0% during the 4th quarter. Larson Financial Group LLC now owns 992 shares of the company's stock worth $30,000 after acquiring an additional 893 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Super Micro Computer in the 1st quarter worth about $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Super Micro Computer in the first quarter worth about $34,000. 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.