Super Micro Computer (NASDAQ:SMCI) Stock Price Up 9.5%

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 9.5% during trading on Tuesday . The stock traded as high as $793.37 and last traded at $785.06. Approximately 3,877,672 shares traded hands during trading, a decline of 61% from the average daily volume of 9,829,941 shares. The stock had previously closed at $717.02.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wedbush reiterated a “neutral” rating and issued a $530.00 price objective on shares of Super Micro Computer in a report on Wednesday. Barclays upped their price target on Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group began coverage on Super Micro Computer in a research report on Monday, March 4th. They set a “neutral” rating and a $941.00 price target for the company. Bank of America upped their price target on Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Argus began coverage on Super Micro Computer in a research report on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $949.85.

Super Micro Computer Stock Performance

The business has a 50-day moving average price of $952.15 and a 200-day moving average price of $559.41. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 58.92, a P/E/G ratio of 0.67 and a beta of 1.28. The company has a quick ratio of 1.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings data on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The business’s quarterly revenue was up 103.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.09 earnings per share. As a group, sell-side analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current year.

Insider Activity

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total value of $162,000.00. Following the sale, the director now directly owns 20,087 shares of the company’s stock, valued at $10,846,980. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $540.00, for a total value of $162,000.00. Following the completion of the transaction, the director now owns 20,087 shares in the company, valued at $10,846,980. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Don W. Clegg sold 28,727 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the transaction, the senior vice president now owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold 34,989 shares of company stock valued at $30,113,681 over the last ninety days. 17.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMCI. CWM LLC raised its position in shares of Super Micro Computer by 9.4% during the 3rd quarter. CWM LLC now owns 510 shares of the company’s stock worth $140,000 after purchasing an additional 44 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Super Micro Computer by 436.9% during the 3rd quarter. Global Retirement Partners LLC now owns 553 shares of the company’s stock worth $155,000 after purchasing an additional 450 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Super Micro Computer by 835.3% during the 3rd quarter. Avior Wealth Management LLC now owns 318 shares of the company’s stock worth $87,000 after purchasing an additional 284 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Super Micro Computer during the 3rd quarter worth about $62,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Super Micro Computer during the 3rd quarter worth about $263,000. Institutional investors and hedge funds 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.