Super Micro Computer (NASDAQ:SMCI) Trading 2.4% Higher – Still a Buy?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 2.4% during trading on Tuesday . The company traded as high as $37.84 and last traded at $36.95. 40,305,931 shares traded hands during trading, a decline of 48% from the average session volume of 77,464,578 shares. The stock had previously closed at $36.07.

Analysts Set New Price Targets

A number of research firms have recently commented on SMCI. Wedbush reissued a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 12th. Barclays began coverage on shares of Super Micro Computer in a research note on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price for the company. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Finally, Cfra upgraded shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $61.87.

Super Micro Computer Stock Up 8.5 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 19.65 and a beta of 1.30. The firm’s fifty day simple moving average is $36.70 and its two-hundred day simple moving average is $39.31.

Insider Transactions at Super Micro Computer

In other news, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total value of $2,322,519.81. Following the transaction, the chief executive officer now directly owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 19,449 shares in the company, valued at approximately $981,785.52. This represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Several large investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust purchased a new stake in Super Micro Computer during the 3rd quarter worth approximately $87,000. Retirement Systems of Alabama increased its stake in Super Micro Computer by 2.3% during the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock worth $4,733,000 after buying an additional 258 shares during the period. TrueWealth Advisors LLC increased its stake in Super Micro Computer by 99.0% during the 3rd quarter. TrueWealth Advisors LLC now owns 593 shares of the company’s stock worth $247,000 after buying an additional 295 shares during the period. Wahed Invest LLC increased its position in shares of Super Micro Computer by 2.9% in the 4th quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after purchasing an additional 352 shares during the last quarter. Finally, Miller Wealth Advisors LLC purchased a new stake in shares of Super Micro Computer in the 3rd quarter valued at approximately $152,000. 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.