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

Super Micro Computer, Inc. (NASDAQ:SMCI)’s stock price gapped up before the market opened 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 trading hands.

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

Insider Activity at Super Micro Computer

In other news, Director Daniel W. Fairfax sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total transaction of $162,000.00. Following the completion of the sale, the director now owns 20,087 shares in the company, valued at approximately $10,846,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel W. Fairfax sold 300 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $540.00, for a total transaction of $162,000.00. Following the completion of the transaction, the director now directly owns 20,087 shares in the company, valued at approximately $10,846,980. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sherman Tuan sold 5,000 shares of the business’s stock in a transaction dated 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 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 quarter, insiders sold 34,989 shares of company stock valued at $30,113,681. 17.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Super Micro Computer

Hedge funds have recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Super Micro Computer during the third quarter worth about $25,000. Allworth Financial LP purchased a new stake in Super Micro Computer during the 3rd quarter worth approximately $27,000. Optimum Investment Advisors acquired a new stake in Super Micro Computer during the 4th quarter worth approximately $28,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Super Micro Computer in the 4th quarter valued at approximately $30,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Super Micro Computer in the fourth quarter worth $33,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Stock Down 1.7 %

The firm has a market cap of $53.70 billion, a PE ratio of 74.95, a price-to-earnings-growth ratio of 0.78 and a beta of 1.28. The business has a 50-day moving average price of $952.30 and a two-hundred day moving average price of $542.21. The company has a quick ratio of 1.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI) last issued its earnings results on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.65. Super Micro Computer had a net margin of 7.92% and a return on equity of 32.34%. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $3.09 earnings per share. The firm’s revenue was up 103.0% compared to the same quarter last year. On average, equities research 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.