Super Micro Computer (NASDAQ:SMCI) Trading Up 7.9% – Here’s Why

Super Micro Computer, Inc. (NASDAQ:SMCI) traded up 7.9% during trading on Monday . The stock traded as high as $34.15 and last traded at $32.17. 29,240,477 shares were traded during mid-day trading, a decline of 60% from the average session volume of 73,226,929 shares. The stock had previously closed at $29.82.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Loop Capital reaffirmed a “buy” rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group downgraded shares of Super Micro Computer from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $40.00 to $32.00 in a research report on Monday, March 24th. Barclays started coverage on Super Micro Computer in a research report on Thursday, February 27th. They issued an “equal weight” rating and a $59.00 price target for the company. Finally, Cfra raised Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Super Micro Computer Stock Performance

The firm’s 50 day moving average price is $39.62 and its 200-day moving average price is $37.06. The firm has a market cap of $21.79 billion, a price-to-earnings ratio of 18.43 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insiders Place Their Bets

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the company’s 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 owns 19,449 shares of the company’s stock, valued at $981,785.52. This represents a 78.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $828,606.80. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 in the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after buying an additional 55,845,073 shares during the period. Geode Capital Management LLC boosted its position in shares of Super Micro Computer by 914.7% during the 4th 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 in the last quarter. FMR LLC bought a new stake in Super Micro Computer in the fourth quarter valued at about $292,869,000. Invesco Ltd. raised 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 in the last quarter. Finally, Northern Trust Corp lifted its stake in Super Micro Computer by 1,573.8% during 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 currently owned by institutional investors and hedge funds.

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.