Super Micro Computer (NASDAQ:SMCI) Trading 6.8% Higher - Time to Buy?

Super Micro Computer, Inc. (NASDAQ:SMCI - Get Free Report)'s share price traded up 6.8% during mid-day trading on Friday . The stock traded as high as $41.93 and last traded at $41.73. 21,777,965 shares were traded during mid-day trading, a decline of 72% from the average session volume of 77,281,789 shares. The stock had previously closed at $39.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SMCI shares. Northland Securities set a $70.00 price target on shares of Super Micro Computer in a research note on Thursday, March 6th. Loop Capital reiterated a "buy" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Super Micro Computer to a "sell" rating in a research note on Friday, February 28th. Barclays started coverage on shares of Super Micro Computer in a research note on Thursday, February 27th. They set an "equal weight" rating and a $59.00 price target on the stock. Finally, Wedbush reiterated a "hold" rating on shares of Super Micro Computer in a research note on Tuesday, February 18th. Three equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Super Micro Computer presently has a consensus rating of "Hold" and an average target price of $52.57.

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Super Micro Computer Price Performance

The stock has a fifty day moving average of $37.83 and a 200-day moving average of $38.19. 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 firm has a market capitalization of $24.79 billion, a P/E ratio of 20.98 and a beta of 1.21.

Insider Activity at Super Micro Computer

In related news, Director Robert L. Blair sold 19,460 shares of Super Micro Computer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction dated Wednesday, February 26th. The stock was 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 approximately $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 over the last ninety days. 17.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors have recently modified their holdings of SMCI. Vanguard Group Inc. grew its position in shares of Super Micro Computer by 908.4% during the 4th quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company's stock worth $1,889,531,000 after buying an additional 55,845,073 shares during the period. Geode Capital Management LLC grew its position in shares of Super Micro Computer by 914.7% in the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company's stock valued at $390,572,000 after purchasing an additional 11,580,677 shares during the period. FMR LLC acquired a new position in shares of Super Micro Computer in the 4th quarter valued at approximately $292,869,000. Invesco Ltd. grew its position in shares of Super Micro Computer by 929.5% in the 4th quarter. Invesco Ltd. now owns 7,542,742 shares of the company's stock valued at $229,903,000 after purchasing an additional 6,810,082 shares during the period. Finally, Northern Trust Corp grew its position in shares of Super Micro Computer by 1,573.8% in the 4th quarter. Northern Trust Corp now owns 4,897,876 shares of the company's stock valued at $149,287,000 after purchasing an additional 4,605,260 shares during the period. 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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