Super Micro Computer (NASDAQ:SMCI) Trading Up 3.7% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were up 3.7% during mid-day trading on Monday . The stock traded as high as $35.07 and last traded at $33.18. Approximately 26,838,665 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 71,708,569 shares. The stock had previously closed at $31.99.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SMCI shares. KGI Securities started coverage on shares of Super Micro Computer in a research report on Wednesday, May 7th. They issued a “neutral” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Super Micro Computer in a research report on Wednesday, May 7th. Citigroup started coverage on shares of Super Micro Computer in a research report on Tuesday, May 6th. They issued a “neutral” rating and a $39.00 target price on the stock. Rosenblatt Securities decreased their target price on shares of Super Micro Computer from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, StockNews.com raised shares of Super Micro Computer to a “sell” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.53.

Super Micro Computer Trading Up 4.8%

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The business’s 50-day moving average price is $35.37 and its 200 day moving average price is $35.09. The firm has a market capitalization of $20.00 billion, a price-to-earnings ratio of 16.83 and a beta of 1.36.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP George Kao sold 71,720 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This represents a 78.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock valued at $6,771,552 in the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SMCI. Vanguard Group Inc. grew its position in Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after purchasing an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC grew its position in Super Micro Computer by 914.7% in the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the last quarter. FMR LLC bought a new position in Super Micro Computer in the 4th quarter worth about $292,869,000. Invesco Ltd. grew its position in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after purchasing an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp grew its position in Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the last quarter. 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.