Super Micro Computer (NASDAQ:SMCI) Stock Price Up 1.2% on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI) rose 1.2% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $35.00 to $46.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Super Micro Computer traded as high as $54.15 and last traded at $53.86. Approximately 11,997,445 shares were traded during trading, a decline of 82% from the average daily volume of 68,117,154 shares. The stock had previously closed at $53.22.

SMCI has been the subject of a number of other research reports. Rosenblatt Securities decreased their target price on shares of Super Micro Computer from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered shares of Super Micro Computer from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $40.00 to $32.00 in a report on Monday, March 24th. Mizuho boosted their price objective on shares of Super Micro Computer from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Super Micro Computer to a “sell” rating in a report on Thursday, May 8th. Finally, Bank of America started coverage on shares of Super Micro Computer in a report on Wednesday, July 9th. They issued an “underperform” rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.89.

Insider Buying and Selling

In other Super Micro Computer news, CFO David E. Weigand sold 67,000 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $44.02, for a total value of $2,949,340.00. Following the sale, the chief financial officer owned 88,599 shares in the company, valued at $3,900,127.98. The trade was a 43.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Liang sold 300,000 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $45.00, for a total transaction of $13,500,000.00. Following the completion of the sale, the chief executive officer owned 66,903,640 shares in the company, valued at approximately $3,010,663,800. The trade was a 0.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 667,000 shares of company stock valued at $29,949,340. Company insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Super Micro Computer by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 64,407,769 shares of the company’s stock valued at $2,205,322,000 after buying an additional 2,415,276 shares in the last quarter. Geode Capital Management LLC raised its position in Super Micro Computer by 914.7% in the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock worth $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC purchased a new stake in Super Micro Computer in the 4th quarter worth about $292,869,000. Invesco Ltd. raised its position in Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after purchasing an additional 6,810,082 shares during the period. Finally, Northern Trust Corp raised its position in Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after purchasing an additional 4,605,260 shares during the period. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Down 0.9%

The company has a market cap of $31.48 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.44 and a beta of 1.43. The company has a 50-day simple moving average of $44.49 and a 200 day simple moving average of $39.10. The company has a current ratio of 6.66, a quick ratio of 3.95 and a debt-to-equity ratio of 0.38.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $5.40 billion. Super Micro Computer had a net margin of 5.61% and a return on equity of 20.41%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, equities analysts anticipate that Super Micro Computer, Inc. will post 1.86 EPS for the current 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.