Super Micro Computer (NASDAQ:SMCI) Shares Up 3.8% - Still a Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded up 3.8% on Friday . The stock traded as high as $42.41 and last traded at $42.33. 8,483,851 shares were traded during trading, a decline of 88% from the average session volume of 71,172,264 shares. The stock had previously closed at $40.77.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SMCI shares. The Goldman Sachs Group downgraded Super Micro Computer from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $40.00 to $32.00 in a report on Monday, March 24th. Wedbush restated a "neutral" rating and issued a $30.00 target price (down from $40.00) on shares of Super Micro Computer in a research note on Wednesday, May 7th. Raymond James assumed coverage on Super Micro Computer in a report on Tuesday, May 13th. They set an "outperform" rating and a $41.00 price objective for the company. Northland Securities set a $59.00 target price on Super Micro Computer in a research report on Wednesday, May 7th. Finally, Citigroup assumed coverage on Super Micro Computer in a research report on Tuesday, May 6th. They issued a "neutral" rating and a $39.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.63.

Super Micro Computer Price Performance

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 20.86 and a beta of 1.40. The stock has a 50-day moving average price of $36.55 and a two-hundred day moving average price of $36.84.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm 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 revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. As a group, equities research analysts forecast that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Buying and Selling

In related news, CFO David E. Weigand sold 67,000 shares of the stock in a transaction that occurred on 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Super Micro Computer by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock valued at $854,000 after buying an additional 302 shares during the last quarter. Fairscale Capital LLC raised its stake in shares of Super Micro Computer by 13.3% during the 1st quarter. Fairscale Capital LLC now owns 2,698 shares of the company's stock valued at $92,000 after buying an additional 317 shares during the last quarter. Wahed Invest LLC raised its stake in shares of Super Micro Computer by 2.9% during the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock valued at $377,000 after buying an additional 352 shares during the last quarter. Horizon Investments LLC raised its stake in shares of Super Micro Computer by 5.2% during the 1st quarter. Horizon Investments LLC now owns 7,234 shares of the company's stock valued at $248,000 after buying an additional 355 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Super Micro Computer by 32.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,590 shares of the company's stock valued at $54,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 84.06% of the company's stock.

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.