Super Micro Computer (NASDAQ:SMCI) Stock Price Up 7.5% – What’s Next?

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) rose 7.5% on Tuesday . The company traded as high as $40.00 and last traded at $39.68. Approximately 32,216,790 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 77,248,875 shares. The stock had previously closed at $36.90.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SMCI shares. Barclays initiated coverage on Super Micro Computer in a research note on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price for the company. 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 report on Monday, February 24th. Rosenblatt Securities began coverage on shares of Super Micro Computer in a research note on Monday. They issued a “buy” rating and a $60.00 price objective for the company. Cfra raised shares of Super Micro Computer from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, February 11th. Finally, Northland Capmk upgraded Super Micro Computer to a “strong-buy” rating in a research note on Friday, December 20th. Three 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 issued a strong buy rating to the stock. According to MarketBeat, Super Micro Computer has an average rating of “Hold” and a consensus price target of $52.57.

Super Micro Computer Stock Up 11.0 %

The stock’s 50-day simple moving average is $37.20 and its 200 day simple moving average is $38.46. 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 market cap of $24.30 billion, a P/E ratio of 20.54 and a beta of 1.21.

Insiders Place Their Bets

In related news, CEO Charles Liang sold 46,293 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the sale, the senior vice president now directly owns 19,449 shares of the company’s stock, valued at approximately $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is owned by corporate insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently bought and sold shares of SMCI. Sigma Planning Corp raised its stake in shares of Super Micro Computer by 25.1% in the third quarter. Sigma Planning Corp now owns 3,950 shares of the company’s stock worth $1,645,000 after purchasing an additional 792 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Super Micro Computer by 581.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,380 shares of the company’s stock valued at $9,735,000 after acquiring an additional 19,950 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Super Micro Computer by 128.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,026 shares of the company’s stock worth $828,000 after acquiring an additional 1,138 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Super Micro Computer by 391.8% in the 3rd quarter. Rakuten Securities Inc. now owns 76,660 shares of the company’s stock worth $31,921,000 after acquiring an additional 61,071 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Super Micro Computer by 12.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 124,652 shares of the company’s stock valued at $51,905,000 after purchasing an additional 13,936 shares during the last quarter. 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.