Super Micro Computer (NASDAQ:SMCI) Trading Up 0.6% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) was up 0.6% during trading on Tuesday . The company traded as high as $32.58 and last traded at $32.36. Approximately 11,092,489 shares traded hands during trading, a decline of 84% from the average daily volume of 71,474,335 shares. The stock had previously closed at $32.17.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Northland Securities set a $59.00 target price on Super Micro Computer in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $39.00 price target on shares of Super Micro Computer in a research report on Wednesday. KGI Securities began coverage on shares of Super Micro Computer in a research report on Wednesday. They set a "neutral" rating for the company. Finally, Barclays reissued an "equal weight" rating and issued a $34.00 target price on shares of Super Micro Computer in a report on Tuesday. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $45.53.

Super Micro Computer Stock Up 0.5 %

The firm has a market cap of $19.48 billion, a price-to-earnings ratio of 16.39 and a beta of 1.36. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average is $35.59 and its 200 day moving average is $35.44.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its 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. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. Analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Liang sold 46,293 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the completion of the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 in the last quarter. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds and other institutional investors have recently bought and sold shares of SMCI. Eastern Bank bought a new stake in Super Micro Computer in the first quarter valued at about $29,000. Salem Investment Counselors Inc. acquired a new stake in shares of Super Micro Computer in the 4th quarter valued at approximately $30,000. Trust Co. of Vermont boosted its stake in Super Micro Computer by 900.0% during the 4th quarter. Trust Co. of Vermont now owns 1,000 shares of the company's stock worth $30,000 after acquiring an additional 900 shares during the last quarter. Parkside Financial Bank & Trust increased its stake 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 purchasing an additional 954 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Super Micro Computer by 902.0% in 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. 84.06% of the stock is owned by institutional investors.

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.