Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) were up 3.2% during mid-day trading on Thursday . The company traded as high as $45.67 and last traded at $44.47. Approximately 40,540,883 shares traded hands during trading, a decline of 42% from the average daily volume of 70,222,521 shares. The stock had previously closed at $43.11.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on SMCI shares. JPMorgan Chase & Co. lowered their target price on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. KGI Securities initiated coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They set a "neutral" rating for the company. Mizuho set a $40.00 price target on shares of Super Micro Computer and gave the company a "neutral" rating in a research report on Monday, May 19th. Needham & Company LLC reiterated a "buy" rating and issued a $39.00 price target on shares of Super Micro Computer in a research report on Wednesday, May 7th. Finally, Rosenblatt Securities decreased their price objective on shares of Super Micro Computer from $55.00 to $50.00 and set a "buy" rating on the stock 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.63.
Check Out Our Latest Stock Analysis on SMCI
Super Micro Computer Trading Up 3.2%
The company has a market cap of $26.54 billion, a price-to-earnings ratio of 23.39 and a beta of 1.40. The business's fifty day moving average price is $38.33 and its 200 day moving average price is $37.41. 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 issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping 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 was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Research 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 news, CFO David E. Weigand sold 67,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the transaction, the chief financial officer now owns 88,599 shares in the company, valued at approximately $3,900,127.98. This represents a 43.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Super Micro Computer
Institutional investors have recently made changes to their positions in the stock. New York Life Investment Management LLC raised its holdings in shares of Super Micro Computer by 907.8% during the fourth quarter. New York Life Investment Management LLC now owns 67,585 shares of the company's stock valued at $2,060,000 after purchasing an additional 60,879 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Super Micro Computer during the fourth quarter valued at about $209,000. US Bancorp DE raised its holdings in shares of Super Micro Computer by 1,147.3% during the fourth quarter. US Bancorp DE now owns 28,863 shares of the company's stock valued at $880,000 after purchasing an additional 26,549 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Super Micro Computer by 842.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 24,065 shares of the company's stock worth $723,000 after acquiring an additional 21,512 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Super Micro Computer by 561.3% in the 4th quarter. LPL Financial LLC now owns 675,605 shares of the company's stock worth $20,592,000 after acquiring an additional 573,439 shares during the last quarter. Institutional investors and hedge funds own 84.06% of the company's stock.
Super Micro Computer Company Profile
(
Get Free Report)
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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