Super Micro Computer (NASDAQ:SMCI) Trading Down 4% After Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCI) fell 4% during trading on Friday following insider selling activity. The stock traded as low as $39.27 and last traded at $39.67. 15,839,971 shares were traded during mid-day trading, a decline of 78% from the average session volume of 72,214,750 shares. The stock had previously closed at $41.32.

Specifically, CFO David E. Weigand sold 67,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $44.02, for a total transaction of $2,949,340.00. Following the completion of the transaction, the chief financial officer now owns 88,599 shares in the company, valued at $3,900,127.98. The trade was a 43.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMCI. Citigroup began coverage on Super Micro Computer in a research report on Tuesday, May 6th. They set a “neutral” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Super Micro Computer from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Northland Securities set a $59.00 price target on Super Micro Computer in a research report on Wednesday, May 7th. Barclays reiterated an “equal weight” rating and set a $34.00 price target on shares of Super Micro Computer in a research report on Tuesday, May 6th. Finally, Raymond James started coverage on Super Micro Computer in a research report on Tuesday, May 13th. They set an “outperform” rating and a $41.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Super Micro Computer presently has an average rating of “Hold” and an average target price of $45.63.

Super Micro Computer Stock Down 3.0%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.93 and a current ratio of 3.77. The stock has a 50 day moving average price of $35.82 and a 200 day moving average price of $35.52. The company has a market cap of $23.93 billion, a P/E ratio of 20.13 and a beta of 1.36.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $5.40 billion. Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Research analysts expect that Super Micro Computer, Inc. will post 1.86 earnings per share for the current fiscal year.

Institutional Trading of Super Micro Computer

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Super Micro Computer in the 4th quarter valued at approximately $2,011,000. Janney Montgomery Scott LLC raised its stake in Super Micro Computer by 253.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 69,138 shares of the company’s stock valued at $2,107,000 after purchasing an additional 49,603 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of Super Micro Computer by 761.8% in the fourth quarter. Avior Wealth Management LLC now owns 3,697 shares of the company’s stock valued at $113,000 after purchasing an additional 3,268 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in shares of Super Micro Computer in the fourth quarter valued at $218,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Super Micro Computer by 215.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,604 shares of the company’s stock worth $171,000 after buying an additional 3,825 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

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.