Super Micro Computer (NASDAQ:SMCI) Stock Price Up 11.9% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report) traded up 11.9% during trading on Wednesday . The company traded as high as $34.99 and last traded at $34.23. Approximately 27,989,682 shares traded hands during trading, a decline of 61% from the average session volume of 72,324,778 shares. The stock had previously closed at $30.58.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SMCI shares. JPMorgan Chase & Co. reduced their price objective on shares of Super Micro Computer from $45.00 to $39.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Northland Securities set a $70.00 target price on shares of Super Micro Computer in a research report on Thursday, March 6th. Loop Capital restated a "buy" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Wedbush reaffirmed a "hold" rating on shares of Super Micro Computer in a research report on Tuesday, February 18th. Finally, 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. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $52.57.

Super Micro Computer Trading Up 9.4 %

The stock has a market cap of $19.86 billion, a P/E ratio of 16.80 and a beta of 1.22. 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 business's fifty day simple moving average is $39.29 and its 200 day simple moving average is $36.38.

Insider Activity at Super Micro Computer

In related news, CEO Charles Liang sold 46,293 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the sale, the chief executive officer now directly owns 67,403,640 shares of the company's stock, valued at $3,381,640,618.80. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares of the company's stock, valued at $981,785.52. This represents a 78.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,473 shares of company stock valued at $6,771,552 over the last quarter. Corporate insiders own 17.60% of the company's stock.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently modified their holdings of SMCI. Wahed Invest LLC grew its stake in Super Micro Computer by 2.9% during 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 in the last quarter. Shelton Capital Management boosted its stake 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 buying an additional 480 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in shares of Super Micro Computer by 90.7% in the 1st quarter. IMG Wealth Management Inc. now owns 1,051 shares of the company's stock valued at $36,000 after purchasing an additional 500 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Super Micro Computer by 233.0% during the fourth quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock worth $33,000 after buying an additional 762 shares in the last quarter. Finally, Griffith & Werner Inc. grew its position in Super Micro Computer by 3.6% during the 1st quarter. Griffith & Werner Inc. now owns 23,786 shares of the company's stock worth $814,000 after acquiring an additional 820 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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