Super Micro Computer (NASDAQ:SMCI) Shares Gap Up on Analyst Upgrade

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up before the market opened on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. The stock had previously closed at $882.75, but opened at $901.32. Loop Capital currently has a buy rating on the stock. Super Micro Computer shares last traded at $916.01, with a volume of 889,315 shares.

Other analysts also recently issued research reports about the stock. Argus started coverage on shares of Super Micro Computer in a research report on Wednesday, March 6th. They issued a “buy” rating and a $1,350.00 price objective for the company. Susquehanna increased their price objective on shares of Super Micro Computer from $162.00 to $250.00 and gave the company a “negative” rating in a research report on Tuesday, January 30th. Bank of America increased their price objective on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Northland Securities increased their price objective on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Finally, Barclays increased their price objective on shares of Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $949.85.

Insider Activity at Super Micro Computer

In related news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $540.00, for a total transaction of $162,000.00. Following the sale, the director now directly owns 20,087 shares in the company, valued at $10,846,980. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the transaction, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $540.00, for a total value of $162,000.00. Following the transaction, the director now directly owns 20,087 shares in the company, valued at $10,846,980. The disclosure for this sale can be found here. Insiders have sold a total of 34,989 shares of company stock worth $30,113,681 over the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hennessy Advisors Inc. grew its holdings in Super Micro Computer by 28.1% during the third quarter. Hennessy Advisors Inc. now owns 280,300 shares of the company’s stock worth $76,864,000 after acquiring an additional 61,500 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Super Micro Computer during the third quarter worth about $55,943,000. Natixis Advisors L.P. grew its holdings in Super Micro Computer by 31.4% during the third quarter. Natixis Advisors L.P. now owns 17,218 shares of the company’s stock worth $4,722,000 after acquiring an additional 4,118 shares during the period. Shilanski & Associates Inc. increased its stake in Super Micro Computer by 2.7% in the 4th quarter. Shilanski & Associates Inc. now owns 5,103 shares of the company’s stock worth $1,451,000 after purchasing an additional 134 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Super Micro Computer by 154.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 4,728 shares of the company’s stock worth $1,344,000 after buying an additional 2,870 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.

Super Micro Computer Trading Up 10.6 %

The company has a fifty day simple moving average of $946.77 and a 200-day simple moving average of $539.27. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03. The stock has a market cap of $54.60 billion, a price-to-earnings ratio of 76.21, a P/E/G ratio of 0.80 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings data on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $2.80 billion. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The business’s revenue for the quarter was up 103.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.09 EPS. On average, research analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current fiscal year.

Super Micro Computer Company Profile

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.