Super Micro Computer (NASDAQ:SMCI) Stock Price Up 9.1% After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCIGet Free Report)’s share price shot up 9.1% on Monday after Northland Securities raised their price target on the stock from $925.00 to $1,300.00. Northland Securities currently has an outperform rating on the stock. Super Micro Computer traded as high as $1,065.00 and last traded at $1,061.32. 3,375,257 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 11,191,715 shares. The stock had previously closed at $972.74.

Several other brokerages have also recently weighed in on SMCI. Wedbush boosted their price objective on shares of Super Micro Computer from $250.00 to $530.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group began coverage on shares of Super Micro Computer in a report on Monday, March 4th. They issued a “neutral” rating and a $941.00 target price on the stock. Rosenblatt Securities boosted their target price on shares of Super Micro Computer from $700.00 to $1,300.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Susquehanna boosted their target price on shares of Super Micro Computer from $162.00 to $250.00 and gave the company a “negative” rating in a report on Tuesday, January 30th. Finally, Barclays boosted their target price on shares of Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $865.23.

Check Out Our Latest Analysis on Super Micro Computer

Insider Activity at Super Micro Computer

In related news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $280.00, for a total value of $84,000.00. Following the transaction, the director now owns 20,387 shares of the company’s stock, valued at approximately $5,708,360. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $280.00, for a total transaction of $84,000.00. Following the transaction, the director now owns 20,387 shares of the company’s stock, valued at approximately $5,708,360. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Liang Chiu-Chu Sara Liu sold 962 shares of Super Micro Computer stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $476.10, for a total transaction of $458,008.20. Following the transaction, the director now directly owns 2,714 shares in the company, valued at approximately $1,292,135.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,289 shares of company stock valued at $30,197,681. 17.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Super Micro Computer

Several large investors have recently modified their holdings of SMCI. International Assets Investment Management LLC increased its stake in shares of Super Micro Computer by 56,764.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company’s stock worth $375,818,000 after purchasing an additional 1,319,768 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Super Micro Computer during the 3rd quarter worth approximately $140,751,000. Millennium Management LLC increased its stake in shares of Super Micro Computer by 379.5% during the 2nd quarter. Millennium Management LLC now owns 609,315 shares of the company’s stock worth $24,586,000 after purchasing an additional 482,230 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Super Micro Computer by 4,603.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 471,840 shares of the company’s stock worth $826,000 after purchasing an additional 461,808 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $95,211,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Performance

The company has a market cap of $58.32 billion, a PE ratio of 81.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.19 and a current ratio of 2.43. The company’s 50 day moving average price is $792.10 and its 200-day moving average price is $459.31.

Super Micro Computer (NASDAQ:SMCIGet Free Report) last released its quarterly earnings data on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business earned $3.09 EPS. Super Micro Computer’s revenue was up 103.0% compared to the same quarter last year. Equities research analysts anticipate that Super Micro Computer, Inc. will post 19.66 earnings per share for the current fiscal year.

About Super Micro Computer

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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.

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