Super Micro Computer (NASDAQ:SMCI) Stock Price Up 3.9% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

SMCI has been the topic of a number of research analyst reports. Northland Securities set a $70.00 target price on Super Micro Computer in a research note on Thursday, March 6th. Northland Capmk upgraded shares of Super Micro Computer to a “strong-buy” rating in a research report on Friday, December 20th. Barclays assumed coverage on shares of Super Micro Computer in a research report on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price for the company. JPMorgan Chase & Co. raised Super Micro Computer from an “underweight” rating to a “neutral” rating and increased their target price for the company from $35.00 to $45.00 in a research note on Friday, March 21st. Finally, Wedbush reiterated 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 given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.00.

Super Micro Computer Trading Up 2.9 %

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’s 50 day moving average price is $39.40 and its 200 day moving average price is $37.65. The stock has a market capitalization of $20.91 billion, a P/E ratio of 17.71 and a beta of 1.21.

Insiders Place Their Bets

In other Super Micro Computer news, CEO Charles Liang sold 46,293 shares of Super Micro Computer 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 completion of the sale, the chief executive officer now owns 67,403,640 shares of the company’s stock, valued at approximately $3,381,640,618.80. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP George Kao sold 71,720 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the transaction, the senior vice president now directly owns 19,449 shares in the company, 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 the last quarter, insiders have sold 137,473 shares of company stock worth $6,771,552. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

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