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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up before the market opened on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. The stock had previously closed at $882.75, but opened at $901.32. Loop Capital currently has a buy rating on the stock. Super Micro Computer shares last traded at $916.01, with a volume of 889,315 shares.

Several other research analysts also recently commented on SMCI. Northland Securities lifted their target price on Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. initiated coverage on Super Micro Computer in a research note on Monday, March 25th. They set an “overweight” rating and a $1,150.00 target price for the company. Wells Fargo & Company initiated coverage on Super Micro Computer in a research note on Friday, February 16th. They set an “equal weight” rating and a $960.00 target price for the company. Barclays lifted their target price on Super Micro Computer from $691.00 to $961.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, 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 target price for the company. One 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 company. According to data from MarketBeat, Super Micro Computer presently has a consensus rating of “Moderate Buy” and a consensus target price of $949.85.

Insider Buying and Selling at Super Micro Computer

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $540.00, for a total value of $162,000.00. Following the completion of the transaction, the director now directly owns 20,087 shares of the company’s stock, valued at approximately $10,846,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Liang Chiu-Chu Sara Liu sold 962 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 2,714 shares of the company’s stock, valued at approximately $1,292,135.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $540.00, for a total value of $162,000.00. Following the transaction, the director now directly owns 20,087 shares of the company’s stock, valued at approximately $10,846,980. The disclosure for this sale can be found here. Insiders sold 34,989 shares of company stock valued at $30,113,681 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of institutional investors have recently modified their holdings of SMCI. International Assets Investment Management LLC raised its holdings 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 buying an additional 1,319,768 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Super Micro Computer in the 3rd quarter worth about $140,751,000. Millennium Management LLC increased its holdings in Super Micro Computer by 379.5% in 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in Super Micro Computer by 4,603.3% in 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 in the last quarter. Finally, Norges Bank acquired a new position in Super Micro Computer in the 4th quarter worth about $95,211,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Trading Up 10.6 %

The business has a fifty day simple moving average of $946.77 and a 200-day simple moving average of $539.27. 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 firm has a market cap of $54.60 billion, a price-to-earnings ratio of 76.21, a PEG ratio of 0.80 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.65. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. The business’s revenue for the quarter was up 103.0% compared to the same quarter last year. As a group, equities analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current fiscal year.

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.