Shares of Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) shot up 2% on Wednesday . The stock traded as high as $32.98 and last traded at $32.34. 16,551,105 shares changed hands during trading, a decline of 77% from the average session volume of 73,236,685 shares. The stock had previously closed at $31.71.
Wall Street Analyst Weigh In
Several brokerages have commented on SMCI. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Northland Capmk raised shares of Super Micro Computer to a "strong-buy" rating in a research report on Friday, December 20th. Barclays started coverage on Super Micro Computer in a research report on Thursday, February 27th. They set an "equal weight" rating and a $59.00 target price on the stock. Rosenblatt Securities began coverage on Super Micro Computer in a research report on Monday, March 10th. They issued a "buy" rating and a $60.00 target price for the company. Finally, Northland Securities set a $70.00 price objective on Super Micro Computer in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $53.00.
Check Out Our Latest Report on SMCI
Super Micro Computer Stock Performance
The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average price is $40.16 and its two-hundred day moving average price is $36.88. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of 16.64 and a beta of 1.22.
Insider Activity
In related news, SVP George Kao sold 71,720 shares of the business's stock in a transaction dated 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 sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were 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 three months, insiders sold 137,473 shares of company stock worth $6,771,552. Company insiders own 17.60% of the company's stock.
Institutional Trading of Super Micro Computer
Several large investors have recently modified their holdings of SMCI. Vanguard Group Inc. lifted its stake in Super Micro Computer by 908.4% in the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company's stock valued at $1,889,531,000 after buying an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Super Micro Computer by 914.7% in the fourth quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after acquiring an additional 11,580,677 shares in the last quarter. FMR LLC purchased a new stake in shares of Super Micro Computer in the fourth quarter valued at $292,869,000. Invesco Ltd. boosted its stake in shares of Super Micro Computer by 929.5% during the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after acquiring an additional 6,810,082 shares during the last quarter. Finally, Northern Trust Corp increased its position in Super Micro Computer by 1,573.8% during 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 in the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.
About Super Micro Computer
(
Get Free Report)
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.
Recommended Stories
Before you consider Super Micro Computer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Super Micro Computer wasn't on the list.
While Super Micro Computer currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
