Super Micro Computer (NASDAQ:SMCI) Trading 3.9% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 3.9% on Tuesday . The company traded as high as $35.62 and last traded at $35.59. 14,159,958 shares were traded during mid-day trading, a decline of 81% from the average session volume of 73,211,311 shares. The stock had previously closed at $34.24.

Analyst Ratings Changes

A number of research firms have recently issued reports on SMCI. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $40.00 to $32.00 in a research note on Monday, March 24th. Cfra raised 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 note on Tuesday, February 11th. JPMorgan Chase & Co. raised shares of Super Micro Computer from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $45.00 in a research report on Friday, March 21st. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Northland Capmk raised Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Hold” and an average price target of $53.00.

Super Micro Computer Trading Up 0.1 %

The stock has a market cap of $20.83 billion, a P/E ratio of 17.62 and a beta of 1.21. The firm’s 50 day simple moving average is $39.48 and its two-hundred day simple moving average is $37.51. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other news, CEO Charles Liang sold 46,293 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares in the company, valued at approximately $3,381,640,618.80. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP George Kao sold 71,720 shares of Super Micro Computer 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 completion of the sale, 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. Insiders have sold a total of 137,473 shares of company stock worth $6,771,552 over the last quarter. 17.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Super Micro Computer

A number of hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama increased its position in Super Micro Computer by 2.3% in the 3rd quarter. Retirement Systems of Alabama now owns 11,367 shares of the company’s stock valued at $4,733,000 after acquiring an additional 258 shares during the period. Wahed Invest LLC raised its stake in shares of Super Micro Computer by 2.9% during the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock valued at $377,000 after purchasing an additional 352 shares in the last quarter. Shelton Capital Management lifted its holdings in Super Micro Computer by 6.5% in the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company’s stock worth $240,000 after purchasing an additional 480 shares during the period. Cerity Partners LLC lifted its holdings in Super Micro Computer by 22.5% in the third quarter. Cerity Partners LLC now owns 2,707 shares of the company’s stock worth $1,127,000 after purchasing an additional 497 shares during the period. Finally, Townsquare Capital LLC grew its position in Super Micro Computer by 66.5% in the 3rd quarter. Townsquare Capital LLC now owns 1,307 shares of the company’s stock valued at $544,000 after buying an additional 522 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

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.