Super Micro Computer (NASDAQ:SMCI) Shares Down 4% on Insider Selling

Super Micro Computer, Inc. (NASDAQ:SMCIGet Free Report)’s stock price dropped 4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $755.55 and last traded at $770.16. Approximately 2,777,407 shares traded hands during trading, a decline of 68% from the average daily volume of 8,784,571 shares. The stock had previously closed at $802.52.

Specifically, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $802.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Liang Chiu-Chu Sara Liu sold 525 shares of Super Micro Computer stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $869.62, for a total value of $456,550.50. Following the sale, the director now directly owns 3,459 shares of the company’s stock, valued at approximately $3,008,015.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,325 shares of company stock worth $1,116,736. Insiders own 17.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SMCI shares. Argus started coverage on Super Micro Computer in a report on Wednesday, March 6th. They issued a “buy” rating and a $1,350.00 price target for the company. JPMorgan Chase & Co. started coverage on Super Micro Computer in a report on Monday, March 25th. They issued an “overweight” rating and a $1,150.00 price target for the company. Wedbush boosted their price target on Super Micro Computer from $530.00 to $800.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group decreased their price target on Super Micro Computer from $937.00 to $800.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Wells Fargo & Company decreased their price target on Super Micro Computer from $960.00 to $890.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $954.38.

Read Our Latest Analysis on SMCI

Super Micro Computer Price Performance

The company has a quick ratio of 2.29, a current ratio of 4.69 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $861.78 and a 200 day moving average of $678.95. The stock has a market capitalization of $43.51 billion, a PE ratio of 43.61, a PEG ratio of 0.70 and a beta of 1.23.

Super Micro Computer (NASDAQ:SMCIGet Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $6.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.42 by $1.14. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Super Micro Computer had a return on equity of 34.09% and a net margin of 8.88%. Sell-side analysts predict that Super Micro Computer, Inc. will post 21.11 EPS for the current year.

Institutional Trading of Super Micro Computer

Several large investors have recently added to or reduced their stakes in SMCI. Sound Income Strategies LLC grew its holdings in shares of Super Micro Computer by 14.4% during the 1st quarter. Sound Income Strategies LLC now owns 103 shares of the company’s stock worth $104,000 after purchasing an additional 13 shares during the period. Invst LLC grew its holdings in shares of Super Micro Computer by 4.3% during the 1st quarter. Invst LLC now owns 337 shares of the company’s stock worth $350,000 after purchasing an additional 14 shares during the period. Versant Capital Management Inc grew its holdings in shares of Super Micro Computer by 42.9% during the 1st quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after purchasing an additional 15 shares during the period. TFC Financial Management Inc. grew its holdings in shares of Super Micro Computer by 23.1% during the 1st quarter. TFC Financial Management Inc. now owns 80 shares of the company’s stock worth $81,000 after purchasing an additional 15 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Super Micro Computer by 1.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,270 shares of the company’s stock worth $1,283,000 after purchasing an additional 16 shares during the period. 84.06% of the stock is currently owned by hedge funds and other institutional investors.

Super Micro Computer Company Profile

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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.

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