Super Micro Computer (NASDAQ:SMCI) Shares Up 3.4% Following Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price rose 3.4% during trading on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $931.21 and last traded at $913.00. Approximately 2,115,414 shares were traded during trading, a decline of 79% from the average daily volume of 9,869,750 shares. The stock had previously closed at $882.75.

SMCI has been the subject of a number of other reports. Bank of America lifted their price target 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 boosted their price objective on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Argus initiated coverage on shares of Super Micro Computer in a research note on Wednesday, March 6th. They issued a “buy” rating and a $1,350.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of Super Micro Computer in a research note on Monday, March 4th. They issued a “neutral” rating and a $941.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on shares of Super Micro Computer in a research report on Friday, February 16th. They set an “equal weight” rating and a $960.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Super Micro Computer presently has a consensus rating of “Moderate Buy” and an average target price of $949.85.

Insider Buying and Selling

In related news, Director Sherman Tuan sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $873.98, for a total value of $4,369,900.00. Following the sale, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Super Micro Computer news, Director Sherman Tuan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $873.98, for a total value of $4,369,900.00. Following the completion of the sale, the director now owns 22,113 shares in the company, valued at approximately $19,326,319.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Don W. Clegg sold 28,727 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the sale, the senior vice president now owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The disclosure for this sale can be found here. Insiders have sold 34,989 shares of company stock worth $30,113,681 in the last quarter. Insiders own 17.60% of the company’s stock.

Institutional Investors Weigh In On Super Micro Computer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new stake in Super Micro Computer in the 3rd quarter valued at about $25,000. Allworth Financial LP bought a new position in shares of Super Micro Computer during the 3rd quarter valued at approximately $27,000. Optimum Investment Advisors bought a new position in shares of Super Micro Computer during the 4th quarter valued at approximately $28,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Super Micro Computer during the 4th quarter valued at approximately $30,000. Finally, FinTrust Capital Advisors LLC bought a new position in shares of Super Micro Computer during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Stock Up 10.6 %

The stock’s 50-day moving average price is $946.77 and its two-hundred day moving average price is $539.27. The stock has a market capitalization of $54.60 billion, a P/E ratio of 76.21, a P/E/G ratio of 0.80 and a beta of 1.28. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI) last released its earnings results on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.65. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The company’s revenue was up 103.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.09 EPS. As a group, research analysts expect 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.