Super Micro Computer (NASDAQ:SMCI) Trading 3.4% Higher After Analyst Upgrade

Super Micro Computer, Inc. (NASDAQ:SMCI)’s share price was up 3.4% during trading on Tuesday after Loop Capital raised their price target on the stock from $600.00 to $1,500.00. Loop Capital currently has a buy rating on the stock. Super Micro Computer traded as high as $931.21 and last traded at $913.00. Approximately 2,115,414 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 9,869,750 shares. The stock had previously closed at $882.75.

SMCI has been the subject of several other research reports. The Goldman Sachs Group assumed coverage on Super Micro Computer in a research note on Monday, March 4th. They issued a “neutral” rating and a $941.00 target price for the company. Barclays raised their price objective on shares of Super Micro Computer from $691.00 to $961.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Bank of America upped their target price on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Northland Securities increased their target price on shares of Super Micro Computer from $925.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Finally, Rosenblatt Securities boosted their price target on shares of Super Micro Computer from $700.00 to $1,300.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $949.85.

Insider Buying and Selling

In related news, Director Liang Chiu-Chu Sara Liu sold 962 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $476.10, for a total value of $458,008.20. Following the transaction, the director now owns 2,714 shares of the company’s stock, valued at $1,292,135.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Liang Chiu-Chu Sara Liu sold 962 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $476.10, for a total value of $458,008.20. Following the completion of the sale, the director now owns 2,714 shares in the company, valued at approximately $1,292,135.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel W. Fairfax sold 300 shares of the 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 transaction, the director now owns 20,087 shares in the company, valued at $10,846,980. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,989 shares of company stock worth $30,113,681. Corporate insiders own 17.60% of the company’s stock.

Hedge Funds Weigh In On Super Micro Computer

Large investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new stake in shares of Super Micro Computer in the first quarter worth about $126,000. MetLife Investment Management LLC lifted its holdings in Super Micro Computer by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 25,047 shares of the company’s stock worth $954,000 after buying an additional 8,927 shares during the period. BlackRock Inc. grew its position in shares of Super Micro Computer by 8.7% in the 1st quarter. BlackRock Inc. now owns 3,445,273 shares of the company’s stock worth $131,163,000 after buying an additional 275,725 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Super Micro Computer by 21.1% during the first quarter. Great West Life Assurance Co. Can now owns 2,829 shares of the company’s stock valued at $114,000 after buying an additional 493 shares during the period. Finally, LSV Asset Management bought a new position in shares of Super Micro Computer during the first quarter valued at approximately $259,000. Hedge funds and other institutional investors own 84.06% of the company’s stock.

Super Micro Computer Price Performance

The company 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 of $952.30 and a 200 day moving average of $542.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.19.

Super Micro Computer (NASDAQ:SMCI) last announced its earnings results on Monday, January 29th. The company reported $5.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.65. Super Micro Computer had a return on equity of 32.34% and a net margin of 7.92%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company earned $3.09 EPS. The business’s revenue was up 103.0% compared to the same quarter last year. As a group, research analysts predict 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.