Super Micro Computer (NASDAQ:SMCI) Trading Down 0.5% After Insider Selling

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) dropped 0.5% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $38.23 and last traded at $38.96. Approximately 29,003,924 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 78,008,891 shares. The stock had previously closed at $39.14.

Specifically, Director Robert L. Blair sold 19,460 shares of Super Micro Computer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP George Kao sold 71,720 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Charles Liang sold 46,293 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total value of $2,322,519.81. Following the sale, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com raised Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, February 11th. The Goldman Sachs Group upped their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Loop Capital reiterated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Finally, Wedbush reissued a “hold” rating on shares of Super Micro Computer in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Super Micro Computer currently has an average rating of “Hold” and an average price target of $61.87.

Super Micro Computer Stock Performance

The firm has a market cap of $23.18 billion, a P/E ratio of 19.55 and a beta of 1.30. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $36.80 and a 200-day moving average of $39.14.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMCI. Retirement Systems of Alabama boosted its position 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 acquiring an additional 258 shares during the last quarter. Wahed Invest LLC lifted its position in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company’s stock worth $377,000 after purchasing an additional 352 shares in the last quarter. Miller Wealth Advisors LLC bought a new position in Super Micro Computer in the third quarter valued at $152,000. Archer Investment Corp increased its stake in Super Micro Computer by 364.2% in the 3rd quarter. Archer Investment Corp now owns 571 shares of the company’s stock valued at $238,000 after buying an additional 448 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Super Micro Computer by 22.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,618 shares of the company’s stock worth $1,090,000 after buying an additional 478 shares in the last quarter. 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.