Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price was up 3.8% during mid-day trading on Wednesday . The stock traded as high as $44.99 and last traded at $42.37. Approximately 42,900,330 shares were traded during trading, a decline of 45% from the average daily volume of 77,758,023 shares. The stock had previously closed at $40.84.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a report on Tuesday, February 18th. The Goldman Sachs Group lifted their target price on shares of Super Micro Computer from $32.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, February 24th. Barclays began coverage on Super Micro Computer in a research report on Thursday, February 27th. They issued an "equal weight" rating and a $59.00 price objective on the stock. Wedbush reiterated a "hold" rating on shares of Super Micro Computer in a research note 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 investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $52.57.
Read Our Latest Stock Analysis on SMCI
Super Micro Computer Stock Performance
The company has a 50 day simple moving average of $37.41 and a 200-day simple moving average of $38.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93. The stock has a market capitalization of $26.00 billion, a P/E ratio of 21.91 and a beta of 1.21.
Insider Activity
In other Super Micro Computer news, Director Robert L. Blair sold 19,460 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $42.58, for a total transaction of $828,606.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the completion of the transaction, the senior vice president now directly owns 19,449 shares in the company, valued at approximately $981,785.52. The trade was a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,473 shares of company stock worth $6,771,552 in the last quarter. Corporate insiders own 17.60% of the company's stock.
Hedge Funds Weigh In On Super Micro Computer
Several hedge funds and other institutional investors have recently made changes to their positions in SMCI. Archer Investment Corp lifted its holdings in Super Micro Computer by 364.2% in the 3rd quarter. Archer Investment Corp now owns 571 shares of the company's stock worth $238,000 after buying an additional 448 shares in the last quarter. Bell Bank bought a new stake in Super Micro Computer during the 3rd quarter worth approximately $259,000. Meridian Wealth Management LLC acquired a new stake in shares of Super Micro Computer in the third quarter valued at approximately $270,000. Mizuho Markets Cayman LP acquired a new stake in shares of Super Micro Computer during the 3rd quarter worth approximately $300,000. Finally, ICICI Prudential Asset Management Co Ltd acquired a new stake in shares of Super Micro Computer in the 3rd quarter valued at about $318,000. Hedge funds and other institutional investors own 84.06% of the company's stock.
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.
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