Super Micro Computer (NASDAQ:SMCI) Hits New 52-Week High on Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI – Get Rating) shares hit a new 52-week high on Thursday after Loop Capital raised their price target on the stock from $150.00 to $200.00. The stock traded as high as $213.41 and last traded at $198.67, with a volume of 2411386 shares trading hands. The stock had previously closed at $167.62.

Other research analysts have also recently issued reports about the stock. Wedbush restated an “underperform” rating and issued a $65.00 price target on shares of Super Micro Computer in a report on Wednesday, May 3rd. StockNews.com initiated coverage on shares of Super Micro Computer in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Susquehanna upped their price target on shares of Super Micro Computer from $69.00 to $90.00 in a report on Wednesday, May 3rd. Finally, Northland Securities upped their price target on shares of Super Micro Computer from $175.00 to $200.00 in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $122.00.

Insiders Place Their Bets

In other Super Micro Computer news, Director Shiu Leung Chan bought 1,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $133.09 per share, for a total transaction of $133,090.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at $3,992,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Super Micro Computer news, Director Shiu Leung Chan bought 1,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were bought at an average cost of $133.09 per share, for a total transaction of $133,090.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at $3,992,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Kao sold 553 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.19, for a total transaction of $74,760.07. Following the completion of the sale, the senior vice president now owns 7,239 shares in the company, valued at $978,640.41. The disclosure for this sale can be found here. 14.50% of the stock is owned by company insiders.

Institutional Trading of Super Micro Computer

A number of institutional investors have recently modified their holdings of SMCI. ExodusPoint Capital Management LP raised its position in shares of Super Micro Computer by 14.7% in the 3rd quarter. ExodusPoint Capital Management LP now owns 199,656 shares of the company’s stock valued at $10,995,000 after purchasing an additional 25,663 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Super Micro Computer during the 4th quarter worth $125,000. Renaissance Technologies LLC boosted its stake in Super Micro Computer by 2,901.7% during the 3rd quarter. Renaissance Technologies LLC now owns 373,415 shares of the company’s stock worth $20,564,000 after purchasing an additional 360,975 shares during the last quarter. Trexquant Investment LP boosted its stake in Super Micro Computer by 100.0% during the 3rd quarter. Trexquant Investment LP now owns 27,052 shares of the company’s stock worth $1,490,000 after purchasing an additional 13,525 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Super Micro Computer during the 3rd quarter worth $174,000. 73.08% of the stock is currently owned by institutional investors.

Super Micro Computer Stock Performance

The stock has a market capitalization of $10.86 billion, a PE ratio of 19.48 and a beta of 1.25. The firm’s fifty day moving average is $120.77 and its 200-day moving average is $98.01. The company has a current ratio of 2.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.08.

Super Micro Computer Company Profile

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Super Micro Computer, Inc engages in the distribution and manufacture of information technology solutions and other computer products. Its products include twin solutions, MP servers, GPU and coprocessor, MicroCloud, AMD solutions, power supplies, SuperServer, storage, motherboards, chassis, super workstations, accessories, SuperRack and server management products.