Super Micro Computer Stock Price Down 2.6% on Insider Selling (SMCI)
Shares of Super Micro Computer (NASDAQ:SMCI) were down 2.6% during mid-day trading on Friday following insider selling activity, American Banking News reports. The company traded as low as $24.24 and last traded at $24.34, with a volume of 277,524 shares traded. The stock had previously closed at $24.98.
Specifically, Director Hwei-Ming Fred Tsai sold 14,000 shares of Super Micro Computer stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $25.22, for a total transaction of $353,080.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on SMCI. Analysts at Zacks upgraded shares of Super Micro Computer from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 13th. They now have a $28.10 price target on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Super Micro Computer in a research note on Wednesday, August 6th. They now have a $32.00 price target on the stock, up previously from $30.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Super Micro Computer from $23.00 to $30.00 in a research note on Thursday, June 26th. They now have a “buy” rating on the stock.
The stock has a 50-day moving average of $25.32 and a 200-day moving average of $21.75. The company has a market cap of $1.105 billion and a price-to-earnings ratio of 21.46.
Super Micro Computer (NASDAQ:SMCI) last released its earnings data on Tuesday, August 5th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.01. The company had revenue of $428.07 million for the quarter, compared to the consensus estimate of $395.96 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 32.8% on a year-over-year basis. Analysts expect that Super Micro Computer will post $1.74 EPS for the current fiscal year.
Super Micro Computer, Inc develops and provides end-to-end green computing solutions for Enterprise IT, Datacenter, Cloud Computing, High Performance Computing (NASDAQ:SMCI), and Embedded Systems globally.
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