Super Micro Computer (NASDAQ:SMCI) Shares Gap Up – Here’s What Happened

Super Micro Computer, Inc. (NASDAQ:SMCI) gapped up prior to trading on Wednesday . The stock had previously closed at $40.84, but opened at $43.96. Super Micro Computer shares last traded at $43.25, with a volume of 22,881,406 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMCI. Northland Capmk raised shares of Super Micro Computer to a “strong-buy” rating in a report on Friday, December 20th. The Goldman Sachs Group upped their price objective on shares of Super Micro Computer from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on shares of Super Micro Computer from $23.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 12th. StockNews.com raised Super Micro Computer to a “sell” rating in a report on Friday, February 28th. Finally, Barclays began coverage on Super Micro Computer in a research note on Thursday, February 27th. They set an “equal weight” rating and a $59.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.57.

Super Micro Computer Stock Up 5.2 %

The company has a current ratio of 3.77, a quick ratio of 1.93 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $37.41 and its 200 day moving average is $38.32. The company has a market capitalization of $25.49 billion, a P/E ratio of 21.56 and a beta of 1.21.

Insider Buying and Selling at Super Micro Computer

In related news, SVP George Kao sold 71,720 shares of Super Micro Computer stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $50.48, for a total transaction of $3,620,425.60. Following the sale, the senior vice president now directly owns 19,449 shares in the company, valued at $981,785.52. The trade was a 78.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert L. Blair sold 19,460 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.58, for a total value of $828,606.80. The disclosure for this sale can be found here. Insiders sold 137,473 shares of company stock valued at $6,771,552 in the last 90 days. Insiders own 17.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Super Micro Computer by 908.4% during the fourth quarter. Vanguard Group Inc. now owns 61,992,493 shares of the company’s stock valued at $1,889,531,000 after purchasing an additional 55,845,073 shares in the last quarter. Geode Capital Management LLC increased its position in Super Micro Computer by 914.7% during the 4th quarter. Geode Capital Management LLC now owns 12,846,717 shares of the company’s stock valued at $390,572,000 after buying an additional 11,580,677 shares in the last quarter. FMR LLC purchased a new position in Super Micro Computer during the fourth quarter valued at $292,869,000. Invesco Ltd. boosted its holdings in Super Micro Computer by 929.5% in the fourth quarter. Invesco Ltd. now owns 7,542,742 shares of the company’s stock worth $229,903,000 after acquiring an additional 6,810,082 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Super Micro Computer by 1,573.8% in the fourth quarter. Northern Trust Corp now owns 4,897,876 shares of the company’s stock worth $149,287,000 after acquiring an additional 4,605,260 shares during the last quarter. 84.06% of the stock is currently owned by institutional investors.

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.