Super Micro Computer (NASDAQ:SMCI) Shares Gap Up to $666.31

Super Micro Computer, Inc. (NASDAQ:SMCI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $666.31, but opened at $710.00. Super Micro Computer shares last traded at $712.58, with a volume of 1,061,467 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on SMCI shares. StockNews.com downgraded Super Micro Computer from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. The Goldman Sachs Group decreased their target price on Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 target price on shares of Super Micro Computer in a report on Wednesday, May 1st. Susquehanna lifted their target price on Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company decreased their target price on Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $999.92.

Super Micro Computer Stock Down 7.1 %

The business has a 50 day simple moving average of $821.86 and a 200 day simple moving average of $826.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.69 and a quick ratio of 2.29. The stock has a market cap of $34.94 billion, a PE ratio of 34.11, a P/E/G ratio of 0.44 and a beta of 1.27.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Tuesday, April 30th. The company reported $6.56 EPS for the quarter, beating analysts’ consensus estimates of $5.42 by $1.14. Super Micro Computer had a return on equity of 34.09% and a net margin of 8.88%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, equities research analysts forecast that Super Micro Computer, Inc. will post 21.11 EPS for the current fiscal year.

Insider Buying and Selling at Super Micro Computer

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $802.00, for a total value of $240,600.00. Following the completion of the sale, the director now owns 18,887 shares of the company’s stock, valued at $15,147,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Tally C. Liu sold 500 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $839.17, for a total transaction of $419,585.00. Following the completion of the transaction, the director now owns 27,813 shares of the company’s stock, valued at approximately $23,339,835.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel W. Fairfax sold 300 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $802.00, for a total value of $240,600.00. Following the sale, the director now owns 18,887 shares of the company’s stock, valued at approximately $15,147,374. The disclosure for this sale can be found here. Corporate insiders own 17.60% of the company’s stock.

Institutional Trading of Super Micro Computer

Hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its position in shares of Super Micro Computer by 14.4% in the 1st quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after acquiring an additional 13 shares during the period. Invst LLC raised its holdings in shares of Super Micro Computer by 4.3% in the 1st quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after buying an additional 14 shares in the last quarter. Byrne Asset Management LLC raised its holdings in shares of Super Micro Computer by 10.4% in the 2nd quarter. Byrne Asset Management LLC now owns 148 shares of the company’s stock worth $132,000 after buying an additional 14 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Super Micro Computer by 42.9% in the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after buying an additional 15 shares in the last quarter. Finally, TFC Financial Management Inc. raised its holdings in shares of Super Micro Computer by 23.1% in the 1st quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock worth $81,000 after buying an additional 15 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.