Super Micro Computer (NASDAQ:SMCI) Stock Price Up 3.4% - Here's What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s stock price rose 3.4% during trading on Tuesday . The stock traded as high as $30.68 and last traded at $30.52. Approximately 11,049,912 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 72,491,082 shares. The stock had previously closed at $29.51.

Analysts Set New Price Targets

SMCI has been the topic of several research analyst reports. Rosenblatt Securities began coverage on shares of Super Micro Computer in a research report on Monday, March 10th. They set a "buy" rating and a $60.00 price target on the stock. Northland Securities set a $70.00 price target on Super Micro Computer in a research note on Thursday, March 6th. JPMorgan Chase & Co. dropped their target price on Super Micro Computer from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays assumed coverage on Super Micro Computer in a report on Thursday, February 27th. They set an "equal weight" rating and a $59.00 price target for the company. Finally, Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Three research 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.57.

Super Micro Computer Stock Performance

The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $38.99 and a two-hundred day moving average price of $36.35. The stock has a market cap of $20.33 billion, a P/E ratio of 17.16 and a beta of 1.22.

Insiders Place Their Bets

In other news, CEO Charles Liang sold 46,293 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $50.17, for a total transaction of $2,322,519.81. Following the completion of the transaction, the chief executive officer now owns 67,403,640 shares in the company, valued at $3,381,640,618.80. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock worth $6,771,552 in the last three months. 17.60% of the stock is owned by company insiders.

Institutional Trading of Super Micro Computer

Large investors have recently added to or reduced their stakes in the company. Wahed Invest LLC grew its holdings 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 valued at $377,000 after purchasing an additional 352 shares in the last quarter. Shelton Capital Management increased its holdings in shares of Super Micro Computer by 6.5% in the 4th quarter. Shelton Capital Management now owns 7,880 shares of the company's stock worth $240,000 after buying an additional 480 shares during the last quarter. IMG Wealth Management Inc. raised its position in shares of 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 buying an additional 500 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Super Micro Computer by 233.0% in the 4th quarter. AlphaQuest LLC now owns 1,089 shares of the company's stock valued at $33,000 after acquiring an additional 762 shares during the last quarter. Finally, Griffith & Werner Inc. grew its position in Super Micro Computer by 3.6% in the first quarter. Griffith & Werner Inc. now owns 23,786 shares of the company's stock worth $814,000 after acquiring an additional 820 shares in the last quarter. Institutional investors own 84.06% of the company's stock.

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.