Super Micro Computer (NASDAQ:SMCI) Trading 6.1% Higher – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) shot up 6.1% during trading on Monday . The company traded as high as $43.37 and last traded at $44.08. 9,736,315 shares were traded during mid-day trading, a decline of 86% from the average session volume of 70,600,740 shares. The stock had previously closed at $41.56.

Analyst Ratings Changes

A number of brokerages have recently commented on SMCI. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $40.00 to $32.00 in a research note on Monday, March 24th. Wedbush reiterated a “neutral” rating and issued a $30.00 price target (down from $40.00) on shares of Super Micro Computer in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Super Micro Computer to a “sell” rating in a research note on Thursday, May 8th. KGI Securities started coverage on shares of Super Micro Computer in a research note on Wednesday, May 7th. They issued a “neutral” rating for the company. Finally, Citigroup started coverage on shares of Super Micro Computer in a research report on Tuesday, May 6th. They set a “neutral” rating and a $39.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.63.

Super Micro Computer Price Performance

The firm has a 50 day moving average of $37.59 and a 200-day moving average of $37.23. The company has a market cap of $26.00 billion, a P/E ratio of 21.86 and a beta of 1.40. The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, equities research analysts predict that Super Micro Computer, Inc. will post 1.86 EPS for the current year.

Insider Transactions at Super Micro Computer

In other news, CFO David E. Weigand sold 67,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the sale, the chief financial officer now directly owns 88,599 shares of the company’s stock, valued at $3,900,127.98. This represents a 43.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Several hedge funds have recently modified their holdings of the company. Inspire Investing LLC raised its holdings in shares of Super Micro Computer by 19.0% during the 1st quarter. Inspire Investing LLC now owns 74,395 shares of the company’s stock worth $2,547,000 after acquiring an additional 11,864 shares in the last quarter. Strs Ohio bought a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $3,424,000. Geneos Wealth Management Inc. increased its position in shares of Super Micro Computer by 15.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,917 shares of the company’s stock valued at $271,000 after purchasing an additional 1,045 shares during the last quarter. Integrity Alliance LLC. bought a new position in shares of Super Micro Computer during the 1st quarter valued at approximately $753,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Super Micro Computer by 2.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,892,772 shares of the company’s stock valued at $99,049,000 after purchasing an additional 76,776 shares during the last quarter. 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.