Super Micro Computer (NASDAQ:SMCI) Shares Up 4.8% - Here's Why

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price traded up 4.8% during trading on Thursday . The stock traded as high as $48.98 and last traded at $48.85. 30,686,452 shares were traded during trading, a decline of 56% from the average session volume of 69,809,788 shares. The stock had previously closed at $46.61.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Super Micro Computer to a "sell" rating in a research note on Thursday, May 8th. Raymond James Financial assumed coverage on shares of Super Micro Computer in a research note on Wednesday. They set an "outperform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered shares of Super Micro Computer from a "neutral" rating to a "sell" rating and cut their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Finally, Northland Securities set a $59.00 price target on shares of Super Micro Computer in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $45.63.

Super Micro Computer Trading Up 5.7%

The company has a debt-to-equity ratio of 0.38, a current ratio of 6.66 and a quick ratio of 3.95. The company has a market capitalization of $29.41 billion, a price-to-earnings ratio of 25.92 and a beta of 1.40. The business's 50 day simple moving average is $39.57 and its 200 day simple moving average is $37.51.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The business's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Research analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Activity

In other news, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of Super Micro Computer stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total value of $13,500,000.00. Following the sale, the director now owns 66,903,640 shares of the company's stock, valued at $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David E. Weigand sold 67,000 shares of Super Micro Computer 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 completion of the sale, the chief financial officer now directly owns 88,599 shares in the company, valued at approximately $3,900,127.98. The trade was a 43.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 667,000 shares of company stock valued at $29,949,340 over the last quarter. Corporate insiders own 17.60% of the company's stock.

Institutional Trading of Super Micro Computer

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Super Micro Computer by 203.2% during the fourth quarter. Blue Trust Inc. now owns 1,231 shares of the company's stock worth $38,000 after buying an additional 825 shares in the last quarter. Principal Securities Inc. boosted its holdings in Super Micro Computer by 250.4% during the fourth quarter. Principal Securities Inc. now owns 3,147 shares of the company's stock worth $96,000 after buying an additional 2,249 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Super Micro Computer by 529.6% during the fourth quarter. D.A. Davidson & CO. now owns 15,306 shares of the company's stock worth $467,000 after buying an additional 12,875 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Super Micro Computer by 823.2% during the fourth quarter. New York State Common Retirement Fund now owns 270,290 shares of the company's stock worth $8,238,000 after buying an additional 241,011 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Super Micro Computer by 545.6% during the fourth quarter. Private Advisor Group LLC now owns 31,978 shares of the company's stock worth $975,000 after buying an additional 27,025 shares in the last quarter. Hedge funds and other institutional investors own 84.06% of the company's stock.

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.