Super Micro Computer (NASDAQ:SMCI) Shares Gap Down to $928.48

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down before the market opened on Friday . The stock had previously closed at $928.48, but opened at $871.00. Super Micro Computer shares last traded at $867.64, with a volume of 1,669,512 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMCI. Wedbush increased their price target on Super Micro Computer from $250.00 to $530.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Northland Securities increased their price target on Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Argus began coverage on Super Micro Computer in a report on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price target for the company. JPMorgan Chase & Co. began 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 on the stock. Finally, The Goldman Sachs Group began coverage on Super Micro Computer in a research note on Monday, March 4th. They set a “neutral” rating and a $941.00 target price on the stock. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $949.85.

Super Micro Computer Stock Down 23.1 %

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 has a market cap of $39.91 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 0.82 and a beta of 1.28. The business has a 50-day simple moving average of $956.38 and a 200-day simple moving average of $549.79.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. The company 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%. Super Micro Computer’s revenue for the quarter was up 103.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.09 EPS. On average, equities analysts anticipate that Super Micro Computer, Inc. will post 20.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the sale, the director now owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sherman Tuan sold 5,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Don W. Clegg sold 28,727 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total value of $25,123,772.39. Following the sale, the senior vice president now directly owns 2,110 shares in the company, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold 34,989 shares of company stock valued at $30,113,681 in the last quarter. Corporate insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Several hedge funds and other institutional investors have recently made changes to their positions in SMCI. International Assets Investment Management LLC raised its position 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 acquiring an additional 1,319,768 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Super Micro Computer during the 3rd quarter worth approximately $140,751,000. Millennium Management LLC grew its stake in 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 buying an additional 482,230 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in 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 buying an additional 461,808 shares during the last quarter. Finally, Norges Bank purchased a new position in Super Micro Computer during the 4th quarter worth approximately $95,211,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

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.