Super Micro Computer (NASDAQ:SMCI) Shares Gap Up on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price gapped up prior to trading on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. The stock had previously closed at $882.75, but opened at $901.32. Loop Capital currently has a buy rating on the stock. Super Micro Computer shares last traded at $916.01, with a volume of 889,315 shares changing hands.

Other analysts have also recently issued reports about the stock. Northland Securities boosted their price objective on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Barclays boosted their price target on Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Rosenblatt Securities upped their price target on Super Micro Computer from $700.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. assumed coverage on Super Micro Computer in a research note on Monday, March 25th. They issued an “overweight” rating and a $1,150.00 price objective on the stock. Finally, Wedbush boosted their target price on Super Micro Computer from $250.00 to $530.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $949.85.

Insider Transactions at Super Micro Computer

In related news, SVP Don W. Clegg sold 28,727 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the sale, the senior vice president now directly owns 2,110 shares of the company’s stock, valued at approximately $1,845,342.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Don W. Clegg sold 28,727 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the completion of the sale, the senior vice president now owns 2,110 shares of the company’s stock, valued at $1,845,342.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sherman Tuan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $873.98, for a total transaction of $4,369,900.00. Following the completion of the sale, the director now directly owns 22,113 shares in the company, valued at $19,326,319.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,989 shares of company stock valued at $30,113,681. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

A number of hedge funds have recently bought and sold shares of SMCI. International Assets Investment Management LLC lifted its holdings in Super Micro Computer by 56,764.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,093 shares of the company’s stock worth $375,818,000 after buying an additional 1,319,768 shares during the last quarter. William Blair Investment Management LLC bought a new position in Super Micro Computer during the third quarter worth $140,751,000. Millennium Management LLC boosted its holdings in Super Micro Computer by 379.5% in the second quarter. Millennium Management LLC now owns 609,315 shares of the company’s stock worth $24,586,000 after purchasing an additional 482,230 shares during the period. Envestnet Asset Management Inc. increased its stake in Super Micro Computer by 4,603.3% during the first quarter. Envestnet Asset Management Inc. now owns 471,840 shares of the company’s stock valued at $826,000 after purchasing an additional 461,808 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Super Micro Computer during the fourth quarter worth $95,211,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Stock Performance

The stock’s 50-day moving average price is $952.30 and its 200-day moving average price is $542.21. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $53.70 billion, a P/E ratio of 74.95, a P/E/G ratio of 0.78 and a beta of 1.28.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.65. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. Super Micro Computer’s revenue was up 103.0% on a year-over-year basis. During the same quarter last year, the company posted $3.09 earnings per share. As a group, equities analysts expect that Super Micro Computer, Inc. will post 20.24 EPS for the current year.

About Super Micro Computer

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.