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

Super Micro Computer, Inc. (NASDAQ:SMCI) shares 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.

Several other research firms also recently commented on SMCI. Argus initiated coverage on Super Micro Computer in a report on Wednesday, March 6th. They set a “buy” rating and a $1,350.00 price objective on the stock. Rosenblatt Securities raised their price objective on Super Micro Computer from $700.00 to $1,300.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Susquehanna raised their price objective on Super Micro Computer from $162.00 to $250.00 and gave the stock a “negative” rating in a report on Tuesday, January 30th. Wedbush lifted their price target on Super Micro Computer from $250.00 to $530.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group started coverage on Super Micro Computer in a report on Monday, March 4th. They issued a “neutral” rating and a $941.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $949.85.

Insider Transactions at Super Micro Computer

In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction dated Wednesday, February 14th. The stock was 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 approximately $1,845,342.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Super Micro Computer news, SVP Don W. Clegg sold 28,727 shares of Super Micro Computer stock in a transaction dated Wednesday, February 14th. The stock was 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 approximately $1,845,342.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sherman Tuan sold 5,000 shares of Super Micro Computer stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $873.98, for a total value of $4,369,900.00. Following the sale, the director now directly owns 22,113 shares of the company’s stock, valued at approximately $19,326,319.74. The disclosure for this sale can be found here. Insiders sold 34,989 shares of company stock valued at $30,113,681 in the last quarter. 17.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Super Micro Computer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New Hampshire purchased a new position in shares of Super Micro Computer in the 1st quarter valued at about $35,000. Versant Capital Management Inc increased its stake in 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 buying an additional 15 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Super Micro Computer during the 3rd quarter worth approximately $25,000. Allworth Financial LP purchased a new stake in Super Micro Computer during the 3rd quarter worth approximately $27,000. Finally, Optimum Investment Advisors acquired a new position in shares of Super Micro Computer during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 84.06% of the company’s stock.

Super Micro Computer Trading Up 4.8 %

The firm has a market capitalization of $51.73 billion, a price-to-earnings ratio of 68.91, a PEG ratio of 0.80 and a beta of 1.28. The company has a fifty day moving average price of $940.88 and a two-hundred day moving average price of $534.33. The company has a current ratio of 2.43, a quick ratio of 1.19 and a debt-to-equity ratio of 0.03.

Super Micro Computer (NASDAQ:SMCI) last released its quarterly earnings data on Monday, January 29th. The company reported $5.59 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm posted $3.09 earnings per share. The firm’s quarterly revenue was up 103.0% on a year-over-year basis. As a group, research analysts forecast that Super Micro Computer, Inc. will post 20.24 earnings per share for the current fiscal 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.