Super Micro Computer (NASDAQ:SMCI) Trading Up 6.2% - Still a Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) were up 6.2% on Tuesday . The company traded as high as $53.47 and last traded at $52.80. Approximately 25,388,686 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 68,325,237 shares. The stock had previously closed at $49.73.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Mizuho raised their price target on Super Micro Computer from $40.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Barclays restated an "equal weight" rating and issued a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday, May 6th. Citigroup restated a "neutral" rating and issued a $52.00 price target (up from $37.00) on shares of Super Micro Computer in a research report on Friday. Northland Securities set a $59.00 price target on Super Micro Computer in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their price target on Super Micro Computer from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Super Micro Computer currently has an average rating of "Hold" and a consensus target price of $41.47.

Super Micro Computer Price Performance

The firm has a 50 day simple moving average of $43.26 and a 200-day simple moving average of $38.75. The company has a quick ratio of 3.95, a current ratio of 6.66 and a debt-to-equity ratio of 0.38. The company has a market cap of $32.20 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.25 and a beta of 1.43.

Super Micro Computer (NASDAQ:SMCI - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations 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 for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. As a group, research analysts predict 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 Super Micro Computer news, CEO Charles Liang sold 300,000 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the sale, the chief executive officer directly owned 66,903,640 shares in the company, valued at approximately $3,010,663,800. The trade was a 0.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 300,000 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the sale, the director owned 66,903,640 shares of the company's stock, valued at approximately $3,010,663,800. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 667,000 shares of company stock worth $29,949,340. Company insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Institutional investors have recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $29,000. Central Pacific Bank Trust Division purchased a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $34,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $34,000. Garde Capital Inc. increased its holdings in shares of Super Micro Computer by 42.1% during the 2nd quarter. Garde Capital Inc. now owns 1,013 shares of the company's stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. Finally, IMG Wealth Management Inc. increased its holdings in shares of Super Micro Computer by 90.7% during the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock valued at $36,000 after purchasing an additional 500 shares in the last quarter. 84.06% of the stock is owned by hedge funds and other 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.

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