Super Micro Computer (NASDAQ:SMCI) Trading 6.1% Higher - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shares traded up 6.1% during mid-day trading on Monday . The company traded as high as $43.37 and last traded at $44.08. 9,736,315 shares traded hands during trading, a decline of 86% from the average session volume of 70,600,740 shares. The stock had previously closed at $41.56.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup assumed 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. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price target 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 report on Monday, May 19th. KGI Securities started coverage on Super Micro Computer in a research report on Wednesday, May 7th. They issued a "neutral" rating for the company. Finally, Rosenblatt Securities lowered their price objective on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $45.63.

Super Micro Computer Stock Up 4.8%

The firm has a market cap of $26.00 billion, a PE ratio of 21.86 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. The company's 50-day simple moving average is $37.59 and its two-hundred day simple moving average is $37.23.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. Super Micro Computer had a net margin of 8.09% and a return on equity of 30.57%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $0.66 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts predict that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In related news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the completion of the transaction, the chief financial officer now directly owns 88,599 shares in the company, valued at $3,900,127.98. This trade represents a 43.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Eastern Bank bought a new stake in Super Micro Computer during the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of Super Micro Computer by 2,890.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 987 shares of the company's stock valued at $30,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Super Micro Computer by 902.0% during the fourth quarter. Larson Financial Group LLC now owns 992 shares of the company's stock valued at $30,000 after purchasing an additional 893 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Super Micro Computer by 233.0% during the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock valued at $33,000 after purchasing an additional 762 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in shares of Super Micro Computer during the fourth quarter valued at $33,000. 84.06% of the stock is currently owned by institutional investors.

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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