Super Micro Computer (NASDAQ:SMCI) Shares Down 4% on Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCIGet Free Report)’s stock price was down 4% during trading on Thursday following insider selling activity. The company traded as low as $755.55 and last traded at $770.16. Approximately 2,777,407 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 8,784,571 shares. The stock had previously closed at $802.52.

Specifically, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction of $240,600.00. Following the completion of the sale, the director now directly owns 18,887 shares in the company, valued at $15,147,374. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Super Micro Computer news, Director Tally C. Liu sold 500 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $839.17, for a total value of $419,585.00. Following the completion of the sale, the director now directly owns 27,813 shares in the company, valued at approximately $23,339,835.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel W. Fairfax sold 300 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the sale, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The disclosure for this sale can be found here. Insiders sold a total of 1,325 shares of company stock valued at $1,116,736 in the last three months. 17.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SMCI. Loop Capital increased their price target on Super Micro Computer from $600.00 to $1,500.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company lowered their price target on Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. 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. JPMorgan Chase & Co. started 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, Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 target price on shares of Super Micro Computer in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Super Micro Computer currently has a consensus rating of “Hold” and an average target price of $954.38.

Get Our Latest Stock Analysis on Super Micro Computer

Super Micro Computer Stock Down 3.1 %

The firm has a 50 day simple moving average of $861.78 and a two-hundred day simple moving average of $678.95. The company has a market capitalization of $43.51 billion, a PE ratio of 43.61, a P/E/G ratio of 0.70 and a beta of 1.23. The company has a current ratio of 4.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.35.

Super Micro Computer (NASDAQ:SMCIGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $6.56 earnings per share for the quarter, beating the consensus estimate of $5.42 by $1.14. Super Micro Computer had a return on equity of 34.09% and a net margin of 8.88%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.96 billion. Research analysts expect that Super Micro Computer, Inc. will post 21.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in shares of Super Micro Computer by 0.4% in the 3rd quarter. New York State Common Retirement Fund now owns 34,410 shares of the company’s stock valued at $9,436,000 after buying an additional 150 shares during the period. J.P. Morgan Private Wealth Advisors LLC lifted its holdings in shares of Super Micro Computer by 7.5% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 14,757 shares of the company’s stock valued at $4,047,000 after buying an additional 1,027 shares during the period. Swiss National Bank lifted its holdings in shares of Super Micro Computer by 47.1% in the 3rd quarter. Swiss National Bank now owns 152,000 shares of the company’s stock valued at $41,681,000 after buying an additional 48,700 shares during the period. Spire Wealth Management acquired a new position in Super Micro Computer during the third quarter worth $56,000. Finally, Janney Montgomery Scott LLC raised its holdings in Super Micro Computer by 52.3% during the third quarter. Janney Montgomery Scott LLC now owns 3,721 shares of the company’s stock worth $1,020,000 after purchasing an additional 1,278 shares during the last quarter. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

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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