Super Micro Computer (NASDAQ:SMCI) Shares Gap Down to $928.48

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) gapped down prior to trading on Friday . The stock had previously closed at $928.48, but opened at $871.00. Super Micro Computer shares last traded at $867.64, with a volume of 1,669,512 shares changing hands.

Analysts Set New Price Targets

SMCI has been the subject of several recent research reports. Barclays raised their price target 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. Rosenblatt Securities raised 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. Bank of America raised their price target on shares of Super Micro Computer from $1,040.00 to $1,280.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. initiated coverage on shares of Super Micro Computer in a research report on Monday, March 25th. They issued an “overweight” rating and a $1,150.00 price target for the company. Finally, Wedbush raised their price target on shares of Super Micro Computer from $250.00 to $530.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $949.85.

Super Micro Computer Trading Down 13.3 %

The firm has a market capitalization of $45.02 billion, a PE ratio of 67.73, a PEG ratio of 0.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.19 and a current ratio of 2.43. The company’s 50-day moving average price is $956.91 and its 200-day moving average price is $544.90.

Super Micro Computer (NASDAQ:SMCI) last announced its quarterly earnings results on Monday, January 29th. The company reported $5.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the company earned $3.09 earnings per share. Super Micro Computer’s quarterly revenue was up 103.0% compared to the same quarter last year. On average, sell-side analysts expect that Super Micro Computer, Inc. will post 20.24 earnings per share for the current year.

Insider Activity at Super Micro Computer

In other Super Micro Computer news, Director Daniel W. Fairfax sold 300 shares of Super Micro Computer stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $540.00, for a total value of $162,000.00. Following the transaction, the director now directly owns 20,087 shares in the company, valued at $10,846,980. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Don W. Clegg sold 28,727 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $874.57, for a total transaction of $25,123,772.39. Following the transaction, the senior vice president now directly owns 2,110 shares in the company, valued at $1,845,342.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel W. Fairfax sold 300 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was 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. Insiders sold a total of 34,989 shares of company stock valued at $30,113,681 over the last ninety days. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SMCI. Bank of New Hampshire acquired a new position in Super Micro Computer during the first quarter worth about $35,000. Versant Capital Management Inc grew its position in Super Micro Computer by 42.9% during the first quarter. Versant Capital Management Inc now owns 50 shares of the company’s stock worth $51,000 after buying an additional 15 shares during the period. Sound Income Strategies LLC acquired a new position in Super Micro Computer during the third quarter worth about $25,000. Allworth Financial LP acquired a new position in Super Micro Computer during the third quarter worth about $27,000. Finally, Optimum Investment Advisors acquired a new position in Super Micro Computer during the fourth quarter worth about $28,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

Super Micro Computer Company Profile

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.