Super Micro Computer (NASDAQ:SMCI) Shares Gap Up on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCIGet Free Report) gapped up before the market opened on Tuesday after Northland Securities raised their price target on the stock from $925.00 to $1,300.00. The stock had previously closed at $1,042.79, but opened at $1,087.00. Northland Securities currently has an outperform rating on the stock. Super Micro Computer shares last traded at $1,079.41, with a volume of 1,419,310 shares.

SMCI has been the subject of a number of other reports. Bank of America increased their price target on Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Argus started coverage on Super Micro Computer in a research note on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price target on the stock. Susquehanna boosted their target price on shares of Super Micro Computer from $162.00 to $250.00 and gave the stock a “negative” rating in a report on Tuesday, January 30th. Wedbush lifted their price target on shares of Super Micro Computer from $250.00 to $530.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. started coverage on Super Micro Computer in a report on Monday. They issued an “overweight” rating and a $1,150.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $865.23.

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Insider Buying and Selling

In other news, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the sale, the director now owns 22,113 shares in the company, valued at $19,326,319.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the transaction, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sherman Tuan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the sale, the director now owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,289 shares of company stock valued at $30,197,681. 17.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMCI. Sound Income Strategies LLC bought a new position in Super Micro Computer in the 3rd quarter valued at $25,000. Allworth Financial LP purchased a new stake in Super Micro Computer during the third quarter worth about $27,000. Optimum Investment Advisors bought a new stake in Super Micro Computer in the fourth quarter worth about $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Super Micro Computer in the fourth quarter valued at about $30,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of Super Micro Computer during the 4th quarter worth approximately $33,000. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Price Performance

The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $806.07 and its 200 day moving average is $464.55. The company has a market cap of $57.33 billion, a P/E ratio of 80.02, a PEG ratio of 0.89 and a beta of 1.27.

Super Micro Computer (NASDAQ:SMCIGet Free Report) last issued its earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $2.80 billion. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The business’s revenue was up 103.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.09 earnings per share. As a group, sell-side analysts anticipate that Super Micro Computer, Inc. will post 19.66 EPS for the current year.

Super Micro Computer Company Profile

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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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