Citigroup Begins Coverage on Super Micro Computer (NASDAQ:SMCI)

Equities research analysts at Citigroup initiated coverage on shares of Super Micro Computer (NASDAQ:SMCI - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a "neutral" rating and a $39.00 price target on the stock. Citigroup's target price points to a potential upside of 6.94% from the company's previous close.

SMCI has been the topic of a number of other research reports. Rosenblatt Securities assumed coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They set a "buy" rating and a $60.00 target price on the stock. Wedbush reissued a "hold" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. The Goldman Sachs Group downgraded Super Micro Computer from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $40.00 to $32.00 in a research report on Monday, March 24th. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, Cfra raised Super Micro Computer from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $51.67.

Super Micro Computer Trading Up 1.8 %

NASDAQ:SMCI traded up $0.66 on Friday, reaching $36.47. The stock had a trading volume of 38,037,111 shares, compared to its average volume of 72,269,420. Super Micro Computer has a 12-month low of $17.25 and a 12-month high of $101.40. The company has a market cap of $21.64 billion, a price-to-earnings ratio of 18.31 and a beta of 1.22. The firm's fifty day moving average is $38.37 and its two-hundred day moving average is $36.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, SVP George Kao sold 71,720 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total value of $3,620,425.60. Following the completion of the sale, the senior vice president now owns 19,449 shares of the company's stock, valued at $981,785.52. This trade represents a 78.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Blair sold 19,460 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,473 shares of company stock worth $6,771,552. 17.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Super Micro Computer

A number of hedge funds and other institutional investors have recently modified their holdings of SMCI. Allspring Global Investments Holdings LLC increased its holdings in Super Micro Computer by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,367 shares of the company's stock worth $854,000 after purchasing an additional 302 shares during the last quarter. Wahed Invest LLC increased its stake in shares of Super Micro Computer by 2.9% in the fourth quarter. Wahed Invest LLC now owns 12,362 shares of the company's stock worth $377,000 after buying an additional 352 shares during the last quarter. Shelton Capital Management raised its holdings in Super Micro Computer by 6.5% in the fourth quarter. Shelton Capital Management now owns 7,880 shares of the company's stock valued at $240,000 after acquiring an additional 480 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in Super Micro Computer by 90.7% during the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock valued at $36,000 after acquiring an additional 500 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Super Micro Computer by 60.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,776 shares of the company's stock valued at $61,000 after acquiring an additional 666 shares during the last quarter. 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.