Super Micro Computer (NASDAQ:SMCI) Stock Price Up 0.2% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) shares were up 0.2% during trading on Friday . The stock traded as high as $36.09 and last traded at $34.80. Approximately 19,232,344 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 72,952,598 shares. The stock had previously closed at $34.72.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SMCI. JPMorgan Chase & Co. raised shares of Super Micro Computer from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $45.00 in a research report on Friday, March 21st. Northland Securities set a $70.00 price objective on shares of Super Micro Computer in a research report on Thursday, March 6th. Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Cfra upgraded Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, February 11th. Finally, Barclays initiated coverage on Super Micro Computer in a research note on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Stock Performance

The company has a market cap of $20.33 billion, a price-to-earnings ratio of 17.20 and a beta of 1.21. 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 firm has a fifty day simple moving average of $39.33 and a 200 day simple moving average of $37.75.

Insider Activity at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Kao sold 71,720 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently bought and sold shares of SMCI. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after buying an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $390,572,000 after acquiring an additional 11,580,677 shares in the last quarter. FMR LLC bought a new stake in shares of Super Micro Computer in the 4th quarter worth approximately $292,869,000. Invesco Ltd. grew its holdings in shares of Super Micro Computer by 929.5% during 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 in the last quarter. Finally, Northern Trust Corp increased its position in shares of Super Micro Computer by 1,573.8% during the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock valued at $149,287,000 after purchasing an additional 4,605,260 shares during the period. 84.06% of the stock is owned by 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.