Super Micro Computer (NASDAQ:SMCI) Trading 3.1% Higher – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price traded up 3.1% on Wednesday . The company traded as high as $40.19 and last traded at $39.08. 21,596,698 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 73,313,581 shares. The stock had previously closed at $37.90.

Analysts Set New Price Targets

A number of equities analysts have commented on SMCI shares. Wedbush restated a “hold” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Loop Capital restated a “buy” rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Rosenblatt Securities started coverage on shares of Super Micro Computer in a research note on Monday, March 10th. They issued a “buy” rating and a $60.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Finally, Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, eleven have given 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, the company has an average rating of “Hold” and a consensus price target of $53.29.

Super Micro Computer Price Performance

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 company has a market cap of $23.61 billion, a PE ratio of 19.97 and a beta of 1.21. The business’s 50 day moving average price is $38.47 and its 200-day moving average price is $37.89.

Insider Buying and Selling at Super Micro Computer

In other news, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Liang sold 46,293 shares of the 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 of the company’s stock, valued at $3,381,640,618.80. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock worth $6,771,552 over the last 90 days. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Super Micro Computer by 908.4% in the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock worth $1,889,531,000 after buying an additional 55,845,073 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Super Micro Computer by 914.7% in the fourth 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 during the period. FMR LLC bought a new stake in shares of Super Micro Computer in the fourth quarter valued at approximately $292,869,000. Invesco Ltd. lifted its position in Super Micro Computer by 929.5% in the fourth 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 during the period. Finally, Northern Trust Corp lifted its position in Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.