Super Micro Computer (NASDAQ:SMCI) Trading Up 17.6% - Still a Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) were up 17.6% during trading on Wednesday . The stock traded as high as $46.57 and last traded at $45.73. Approximately 83,483,409 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 72,158,440 shares. The stock had previously closed at $38.89.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SMCI shares. Wedbush reissued a "neutral" rating and set a $30.00 target price (down from $40.00) on shares of Super Micro Computer in a research report on Wednesday, May 7th. Citigroup assumed coverage on shares of Super Micro Computer in a report on Tuesday, May 6th. They set a "neutral" rating and a $39.00 price target for the company. Barclays reaffirmed an "equal weight" rating and set a $34.00 target price on shares of Super Micro Computer in a research report on Tuesday, May 6th. Mizuho set a $34.00 price objective on Super Micro Computer in a research report on Tuesday, May 6th. Finally, Northland Securities set a $59.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer currently has a consensus rating of "Hold" and an average price target of $45.25.

Super Micro Computer Stock Performance

The stock's 50 day moving average is $35.58 and its two-hundred day moving average is $35.07. The firm has a market capitalization of $27.35 billion, a P/E ratio of 23.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, beating 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 company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $5.40 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In other news, SVP George Kao sold 71,720 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares of the company's stock, valued at $981,785.52. This represents a 78.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Liang sold 46,293 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,473 shares of company stock valued at $6,771,552. 17.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Czech National Bank grew its stake in Super Micro Computer by 963.7% in the fourth quarter. Czech National Bank now owns 109,175 shares of the company's stock valued at $3,328,000 after acquiring an additional 98,911 shares during the period. Brookstone Capital Management lifted its holdings in shares of Super Micro Computer by 930.2% during the 4th quarter. Brookstone Capital Management now owns 6,995 shares of the company's stock valued at $213,000 after purchasing an additional 6,316 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at approximately $277,000. Assenagon Asset Management S.A. bought a new stake in Super Micro Computer during the 4th quarter worth approximately $2,542,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Super Micro Computer by 1,266.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,197 shares of the company's stock worth $97,000 after buying an additional 2,963 shares during the period. 84.06% of the stock is 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.