Super Micro Computer Inc. (SMCI) Sees Large Volume Increase
Super Micro Computer Inc. (NASDAQ:SMCI) shares saw unusually-high trading volume on Wednesday . Approximately 1,389,062 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 786,781 shares.The stock last traded at $19.37 and had previously closed at $19.02.
SMCI has been the subject of several recent research reports. Zacks Investment Research raised Super Micro Computer from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 15th. DA Davidson downgraded Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $35.00 to $19.00 in a research note on Tuesday. Sterne Agee CRT reaffirmed a “buy” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Super Micro Computer in a research note on Friday, April 15th. Susquehanna reaffirmed a “positive” rating and issued a $33.00 price objective on shares of Super Micro Computer in a research note on Wednesday, July 6th. Finally, Maxim Group lowered their price objective on Super Micro Computer from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.88.
The company has a market capitalization of $971.29 million and a P/E ratio of 11.06. The company has a 50 day moving average of $25.09 and a 200 day moving average of $28.19.
Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.13. The firm earned $532.70 million during the quarter, compared to analysts’ expectations of $557.27 million. During the same period in the previous year, the business posted $0.47 EPS. The company’s revenue was up 13.1% on a year-over-year basis. On average, analysts expect that Super Micro Computer Inc. will post $1.64 earnings per share for the current year.
In related news, Director Hwei-Ming Fred Tsai sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $25.14, for a total value of $125,700.00. Following the completion of the sale, the director now owns 256,000 shares in the company, valued at approximately $6,435,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cheng-Hsien Phidias Chou sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $26.97, for a total value of $53,940.00. Following the completion of the sale, the vice president now owns 2,000 shares of the company’s stock, valued at approximately $53,940. The disclosure for this sale can be found here.
Other hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Super Micro Computer by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 68,273 shares of the company’s stock worth $1,673,000 after buying an additional 1,142 shares during the last quarter. Rhumbline Advisers increased its stake in Super Micro Computer by 8.4% in the fourth quarter. Rhumbline Advisers now owns 41,646 shares of the company’s stock worth $1,021,000 after buying an additional 3,230 shares during the last quarter. Comerica Bank increased its stake in Super Micro Computer by 7.4% in the fourth quarter. Comerica Bank now owns 74,154 shares of the company’s stock worth $1,628,000 after buying an additional 5,115 shares during the last quarter. Redwood Investments LLC increased its stake in Super Micro Computer by 19.8% in the fourth quarter. Redwood Investments LLC now owns 49,690 shares of the company’s stock worth $1,218,000 after buying an additional 8,205 shares during the last quarter. Finally, First Washington CORP increased its stake in Super Micro Computer by 11.8% in the fourth quarter. First Washington CORP now owns 139,040 shares of the company’s stock worth $3,408,000 after buying an additional 14,640 shares during the last quarter.
Super Micro Computer, Inc offers server technology. The Company develops and provides end-to-end green computing solutions to the data center, cloud computing, enterprise information technology information technology (IT), big data, high performance computing (HPC) and embedded markets. The Company’s solutions range from server, storage, blade and workstations to full racks, networking devices, server management software and technology support and services.
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